I beg to move, in page 6, line 7, to leave out subsection (5) and to insert: (5) An advance made under this section shall be repayable within a period not exceeding 30 years and either by instalments of principle or by an annuity of principal and interest combined. The Bill as originally drafted laid down very lengthy rules about the making of advances by local authorities. This matter was discussed at great length in Committee. The Committee came to the conclusion that a great many of the instructions were not necessary, as local authorities, being responsible bodies, could be trusted and relied upon to insert proper conditions for regulating advances made by them. It was suggested to me that I might consider the wording of the subsection between the Committee and Report stages.

That I have now done, and I propose the words set forth on the Notice Paper as being very much shorter, more succinct and quite sufficient for the purpose.