Resolved,

That, for the purposes of any Act resulting from the Ports Bill, it is expedient to authorize—

(1) a levy on disposals of—

(a) securities; or

(b) rights to require the issue of securities;

of any company to which the undertaking of a harbour authority is transferred under the Act;

(2) a levy in respect of gains accruing to such a company on disposals of land which is the subject of such a transfer or of interests in such land or in land in which an interest transferrred by such a transfer subsists;

(3) the payment into the Consolidated Fund of all payments of levy under the Act, interest on unpaid levy and penalties in respect of levy.—[Mr. McLoughlin.]