§ Mr. Bruce-Gardyneasked the Chancellor of the Exchequer to what extent the requirement placed upon investment trusts to pay out 85 per cent. of annual net profits has been waived for the duration of the prices and wages standstill; and by what authority this has been done.
§ Mr. MacDermotWhere as a consequence of the dividend standstill an investment trust retains more than 15 per cent. of its income, my right hon. Friend has authorised the Board of Inland Revenue to approve the trust provided the other conditions for approval are met.