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Air Travel Reserve Fund Money

Volume 886: debated on Thursday 20 February 1975

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Queen's Recommendation having been signified


That, for the purposes of any Act of the present Session to make provision for establishing a fund from which payments may be made in certain cases in respect of losses or liabilities incurred by customers of air travel organisers in consequence of the inability of the air travel organisers to meet their financial commitments in respect of certain descriptions of travel contracts, and for establishing an agency to hold, manage and apply the fund, it is expedient to authorise the payment out of money provided by Parliament of any sums required by the Secretary of State for making loans to the agency; but the sums so authorised to be paid shall not in the aggregate exceed £15 million.—[Mr. Stoddart.]