Clause 29. — (Stamping of Foreign Bills of Exchange.)

Part of Orders of the Day — FINANCE (No. 2) BILL – in the House of Commons at 12:00 am on 12th June 1967.

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Photo of Mr Thomas Price Mr Thomas Price , Westhoughton 12:00 am, 12th June 1967

I understood the hon. Gentleman to say a minute ago that about £9 million is collected in odd coppers, in pennies and twopences. My understanding is that bills of exchange are stamped ad valorem according to the value of the bill, and the amounts can be quite substantial. That is what applies to bills of exchange as distinct from cheques, is it not?