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Seychelles (Copra Price Stabilisation)

Volume 444: debated on Wednesday 19 November 1947

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20.

asked the Secretary of State for the Colonies if he will make a statement regarding the measures taken in the Seychelles, under a Copra Stabilisation Bill, to levy a cess on copra exports to create a stabilisation fund to be managed by trustees.

A Bill entitled the Copra Stabilisation Fund Ordinance was placed before the Legislative Council of the Seychelles in September but was withdrawn before the Third Reading in view of opposition from the unofficial Members of the Legislative Council. The Bill provided for the establishment of a fund into which there was to be paid a percentage of the amount by which the current export price of copra exceeded an agreed "basic price." Four-fifths of the fund was to be available to stabilise the price of copra should the market price fall and one-fifth for the welfare of labourers.