I move amendment No. 1:
In page 2, before section 4, to insert the following section:
"The amount, or the aggregate amount, of principal which the Minister may at any one time be liable to pay on foot of any guarantee or guarantees under subsection (1) of section 5 of the Act of 1961 for the time being in force, together with the amount of principal (if any) which the Minister has previously paid on foot of any such guarantees and which has not been repaid by the Corporation shall not exceed twenty million pounds and, accordingly, subsection (2) of that section shall be construed as if that sum were substituted for the sum mentioned therein."
The purpose of the amendment is to make it possible for the Minister for Finance to guarantee borrowings, principal and interest, should the Agricultural Credit Corporation borrow money from sources other than the Exchequer. The Bill as originally drafted empowered the Corporation to borrow anywhere they could get money but did not provide for the guarantee of the Minister for Finance. I think it is necessary, in order to enable the Credit Corporation to get money from sources other than the Exchequer, to have the Minister for Finance's guarantee and this amendment so provides.