§ Captain BOWYER asked the Prime Minister whether, in the case of the Treaty of Peace with Austria, that section which deals with the claims of British creditors lapses unless the British 1692W Government gives notice within a month of ratification that it shall come into force; whether, should this section lapse, British creditors will have no other safeguard for their interests than the meaningless permission to collect their Austrian debts as best they can; and whether, in view of the very large sums of money at stake, he will give the assurance that the notice of the British Government referred to above will be given within the necessary time limit?
§ Mr. BRIDGEMAN: I have been asked to reply to this question. Only that section of the Treaty of Peace with Austria providing for the establishment of a Clearing Office for debts will lapse unless notice is given within a month of ratification. As Austrian property in this country is not sufficient to secure payment of British creditors in full it is not practicable to adopt the Clearing Office scheme, but British creditors will have the benefit of the charge on Austrian property contained in Article 249 of the Treaty in respect of amounts which they may be unable to recover from their debtors.