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Transport Money (No 2)

Volume 436: debated on Thursday 24 April 1947

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Resolution reported:

"That, for the purposes of any Act of the present Session to provide, amongst other things, for the establishment of a British Transport Commission, it is expedient to authorise
  • (a) the payment out of the Consolidated Fund of such sums as may be required to fulfil any guarantee by the Treasury of the principal of and interest on moneys temporarily borrowed by the said Commission or any other body having functions under the said Act, so, however, that the moneys temporarily borrowed by the Commission do not at any time exceed twenty-five million pounds;
  • (b) the payment out of moneys provided by Parliament of the remuneration of officers and servants of the Transport Tribunal referred to in the said Act appointed under the said Act in excess of the number authorised by section twenty-one of the Railways Act, 1921.
  • For the purposes of this Resolution, the expression "borrow" does not include-

  • (i) the receipt of money by the Commission in the course of the carrying on of a savings bank operated for the benefit of the employees of the Commission, or the use by the Commission of money so received; or
  • (ii) the receipt or use by the Commission of moneys received by trustees carrying on such a savings bank as aforesaid; or
  • (iii) the receipt or use by the Commission of moneys of a pension fund established for the purposes of a pension scheme (as defined in the said Act of the present Session) in which employees of the Commission are participants."
  • Resolution agreed to.