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Cotton Money

Volume 520: debated on Wednesday 18 November 1953

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Considered in Committee under Standing Order No. 84 (Money Committees).—( Queen's Recommendation signified.)

[Mr. HOPKIN MORRIS in the Chair]

Motion made, and Question proposed,

That, for the purposes of any Act of the present Session to modify the functions of the Raw Cotton Commission, and to enable the said Commission to be wound up and dissolved, it is expedient—
  • (a) to authorise the issue out of the Consolidated Fund of any increase attributable to the provisions of the said Act of the present Session in the sums authorised to be so issued under section twenty-one of the Cotton (Centralised Buying) Act, 1947;
  • (b) to authorise the raising of money by the Treasury, in any manner in which they are authorised to raise money under the National Loans Act, 1939, for the purpose of providing, or of replacing in the Consolidated Fund, any increase in those sums which is so attributable;
  • (c) in the event of the winding up of the said Commission, to authorise—
  • (i) the cancellation of all or any of the liabilities of the Commission in respect of initial and periodical advances under the said Act of 1947;
  • (ii) the making good, out of moneys provided by Parliament, of any deficiency of assets resulting from the winding up of the Commission, or, as the case may be, the payment into the Exchequer of any surplus moneys resulting therefrom.—[Mr. Boyd-Carpenter.]
  • I do not want to detain the Committee for more than a few minutes—

    If the right hon. Gentleman wants to make a speech on this Resolution, it must be put off until another day.

    It being after Ten o'Clock, and objection being taken to further Proceeding, The CHAIRMAN left the Chair, to make his report to the House.

    Committee report Progress; to sit again Tomorrow.