§ Mr. Royleasked the Secretary of State for the Colonies if he will make a statement on the relationship, so far as Colonial Territories are concerned, between the Colonial Development Corporation and the Commonwealth Development Finance Company and their respective functions.
§ Mr. LytteltonThe two organisations are quite separate and independent of each other. The Colonial Development154W Corporation is a statutory public corporation whose functions are described in the Overseas Resources Development Act. The Commonwealth Development Finance Company is a private commercial concern. Both can operate in the Colonies for the development of economic resources, and I understand that they consult together where appropriate, though this does not affect their freedom of action in any way.