I move amendment No. 1:—
In sub-section (1) (b), page 5, lines 22 and 23 to delete the words "if and when such charge could lawfully be made."
The object of the amendment is to delete words that were found to be unnecessary, or, perhaps I should not say unnecessary, but rather that would defeat the effect of the clause. In this arrangement made by the Agricultural Credit Corporation with the societies concerned, it was explained by the Minister for Defence, in my absence, that there was an understanding between the Credit Corporation and the Minister for Agriculture that the position would be made right legally at a later date. The rules of the society enabled them to charge their uncalled capital, but the law did not, as it stands, enable the Agricultural Credit Corporation to take that charge. If these words were to remain in it was doubtful whether we might not have lost the whole effect of our Bill. In any case, they are not necessary. When the attention of the draftsman was called to the matter he agreed that they should be removed. It is really a legal matter whether the words would defeat that clause or not.