§ Viscount WOLMERasked the Chancellor of the Exchequer whether a company which at the time of issue of its securities did not propose to apply any of the proceeds for capital purposes outside the United Kingdom, but which subsequently finds, in the course of its business, that it is necessary to utilise a part of its capital outside this country, will have to make application to the new Capital Issues Committee of the Treasury before doing so?
§ Viscount WOLMERasked the Chancellor of the Exchequer whether he can define the meaning attached by the Government to the words "capital purposes," which are now required to be included in every prospectus or other document offering securities for subscription, under the new regulations relating to capital issues?
Mr. CHAMBERLAINThe expression "capital purposes outside the United Kingdom" includes the purchase of land and other fixed assets situated abroad and the acquisition either in the United Kingdom or elsewhere of instruments of production or other income-producing assets for use abroad. In this connection, my Noble Friend will no doubt remember that the Committee has been instructed, in considering the applications made to them, to take into account the extent to which the proceeds of the issue will be expended within the United Kingdom and the assistance which the issue may be expected to give to British trade.