Clause 3. — (Additional powers exercisable by proclamation.)

Part of Orders of the Day — Coinage Bill – in the House of Commons at 12:00 am on 18th October 1946.

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Photo of Mr Osbert Peake Mr Osbert Peake , Leeds North 12:00 am, 18th October 1946

I should be grateful if the hon. Gentleman would make one point clear. Does he tell the Committee that under existing legislation the Chancellor could have introduced a cupro-nickel coinage in place of the existing silver coinage without consulting Parliament and that this Bill has been brought before the House only as a matter of courtesy? Is he saying that powers exist under some Act which enable the Chancellor to vary the metal content of our coinage?