Hansard

Commonwealth Development Corporation Money

Volume 33: debated on Tuesday 7 December 1982

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Queen's Recommendation having been signified—

Resolved,

That, for the purposes of any Act of the present Session to authorise the making of loans to the Commonwealth Development Corporation by the Secretary of State our of the National Loans Fund and to impose new limits on sums borrowed by, or guaranteed by, the Corporation or any of its subsidiaries, it is expedient to authorise—
  • (a) the making of loans to the Corporation out of the National Loans Fund;
  • (b) any increase in the sums payable out of the Consolidated Fund for the purpose of fulfilling guarantees given by the Treasury which is attributable to provisions of that Act imposing a new limit of £850 million on the aggregate amount from time to time outstanding in respect of—
  • (i) sums borrowed by the Corporation or any of its subsidiaries, otherwise than from the Corporation or any of its subsidiaries; and
  • (ii) sums borrowed otherwise than by the Corporation or any of its subsidiaries but covered by guarantees given by the Corporation or any of its subsidiaries;

    • (c) any increase in—

  • (i) the sums that may be advanced under section 10(1) of the Commonwealth Development Corporation Act 1978 out of money provided by Parliament; or
  • (ii) the sums that may be remitted under Section 13(1) of the said Act of 1978; being an increase attributable to provisions of the said Act of the present Session increasing to £800 million the limit on the sums which may be advanced to the Corporation out of money provided by Parliament; and

    • (d) any payment into the Consolidated Fund or the National Loans Fund.— [Mr. Thompson.]

    Commonwealth Development Corporation Bill

    Bill immediately considered in Committee, pursuant to order this day.

    [MR. PAUL DEAN in the Chair]

    Clauses 1 to 4 ordered to stand part of the Bill.

    Bill reported, without amendment; read the Third time and passed.