Clause 2. — (Capital Expenditure for Purposes of Post Office Savings Bank Not to Be Paid Out of Post Office Savings Bank Fund.)

Part of Orders of the Day — Post Office and Telegraph (Money) Bill – in the House of Commons at 12:00 am on 13th June 1952.

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Photo of Mr Reginald Paget Mr Reginald Paget , Northampton 12:00 am, 13th June 1952

I think probably not, and that you are right, Sir Charles, about that. It affects premises as part of what one might describe as the investment folio after they have been acquired. It is probably true to say that this Section is confined to the provision of new premises, that is, premises before they find their way into the Bank's investment folio. In that sense it may well be that Section 13 would not be affected.

Section 14 again deals directly with the superannuation allowances which are to be transferred. Perhaps I can put my point in this way. If they are transferred under Section 5, I think they will be transferred subject to the form and limitations as set out in Section 14.