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Clause 17—(Valuation Of Securities For Compensation Purposes)

Volume 440: debated on Wednesday 23 July 1947

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Lords Amendment: In page 21, line 43, at end insert:

"(d) The reasonable costs incurred by the directors as such representatives in connection with any proceedings before the Arbitration Tribunal under the provisions of this subsection shall be paid by the Commission"

Motion made, and Question proposed, "That this House doth agree with the Lords in the said Amendment."—[ Mr. G. R. Strauss.]

10 p.m.

This Amendment covers a financial point, and I think we might have some explanation from the Government as to why they are accepting it. When we are accepting Amendments from another place I do not think that we should accept them all without discussion. There is, presumably, a good reason why the Government are accepting this Amendment, and I think the House is entitled to know what that reason is.

The reason is simple. The Amendment enables directors of a railway and canal undertaking which is transferred to decide whether they want to appear themselves before the arbitration tribunal on behalf of their stockholders. If they do the Commission may pay them reasonable remuneration for the work which they do on that occasion.

Question put, and agreed to.