Colonial Development Act 1929

1929 CHAPTER 5

An Act to authorise the making of advances for aiding and developing agriculture and industry in certain colonies and territories, to provide for the extension of the Colonial Stock Acts, 1877 to 1900, to stock forming part of the public debt of certain protected and mandated territories, and to amend the Palestine and East Africa Loans Act, 1926, and section eleven of the Trusts (Scotland) Act, 1921.

[26th July 1929]

Be it enacted by the King's most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows:—

1 Power to make advances for the purposes of colonial development

(1) The Treasury, with the concurrence of the Secretary of State for the Colonies and on the recommendation of the committee to be appointed for the purposes of this Act, may make advances to the Government of any colony or of any territory to which this section applies, for the purpose of aiding and developing agriculture and industry in the colony or territory, and thereby promoting commerce with or industry in the United Kingdom, by any of the following means:—

(a) Encouraging the adoption of improved machinery and equipment for cultivation and for the preparation of agricultural produce for the market:

(b) The improvement of internal transport and communications and the provision of equipment therefor:

(c) The construction and improvement of harbours and the provision of equipment therefor:

(d) The development and improvement of fisheries :

(e) Forestry:

(f) Surveys:

(g) The reclamation, drainage and irrigation of land:

(h) Promoting the discovery and improvement of water supplies and the development of water power:

(i) The production, distribution and supply of electricity:

(k) Promoting the development of mineral resources :

(l) The promotion of scientific research, instruction and experiments in the science, methods and practice of agriculture and industry, the organisation of co-operation, and instruction in the growing and marketing of produce :

(m) The promotion of public health :

(n) Assisting the Government of the colony or territory in defraying in whole or in part, during a period not exceeding ten years from the raising of the loan, the interest payable by the Government on any loan raised after this section comes into operation for any purpose for which an advance might have been made under this section, including any loan raised under the [16 & 17 Geo. 5. c. 62.] Palestine and East Africa Loans Act, 1926 :

(o) Any other means which appear calculated to achieve the purpose aforesaid.

(2) Advances under this section may, subject as hereinafter provided, be made either by way of grant or by way of loan, or partly in one way and partly in the other, and on such terms and subject to such conditions as the Treasury may think fit, and may be applied by the Government to which they are made either directly or through any person or body of persons:

Provided that the Secretary of State—

(a) shall satisfy himself that fair conditions of labour will be observed in the execution of all works the cost of which is to be defrayed in whole or in part out of an advance, and in particular—

(i) that the wages paid will be at not less than the standard rates; and

(ii) that no forced labour and no children under such age as may be appropriate in the circumstances but not in any case being less than twelve years will be employed on the works; and

(b) shall take into account the desirability of securing, so far as possible, that the colony or territory in respect of which an advance is made shall participate in any increase in values directly attributable to the advance.

(3) For the purposes of this section there shall be paid out of moneys provided by Parliament such sums, not exceeding one million pounds in any one year, as Parliament may from time to time determine.

(4) All sums issued on account of moneys provided by Parliament under this section shall be paid into a fund to be called " The Colonial Development Fund," and all advances made under this section shall be made out of that fund.

(5) The Treasury shall cause an account to be prepared and transmitted to the Comptroller and Auditor-General for examination, on or before the thirtieth day of September in every year, showing the receipts into and issues out of the Colonial Development Fund in the financial year ended on the thirty-first day of March preceding, and the Comptroller and Auditor-General shall certify and report upon the same, and such account and report shall be laid before Parliament by the Treasury on or before the thirty-first day of January in the following year if Parliament is then sitting, and, if Parliament is not then sitting, then within one week after Parliament is next assembled.

(6) Payments into and out of the Colonial Development Fund shall be made, and all other matters relating to the fund and the moneys standing to the credit of the fund shall be regulated, in such manner as the Treasury may direct.

(7) The Treasury may from time to time invest any money standing to the credit of the Colonial Development Fund in any Government securities.

(8) Any sums received by the Treasury by way of interest on or repayment of any advance made by way of loan under this section shall be paid into the Exchequer.

(9) The Secretary of State may, with the approval of the Treasury, make regulations prescribing the manner in which applications for advances under this section are to be made.

(10) The territories to which this section applies are territories which are under His Majesty's protection and territories in respect of which a mandate on behalf of the League of Nations has been accepted by His Majesty and is being exercised by His Majesty's Government in the United Kingdom.

(11) In this section the expression " colony " means a colony not possessing responsible Government.

2 Appointment of committee, and expenses

(1) The committee for the purposes of this Act shall be appointed by the Secretary of State for the Colonies subject to the approval of the Treasury.

(2) Any expenses incurred by the said Secretary of State in connection with the said committee shall, up to an amount approved by the Treasury, be paid out of moneys provided by Parliament.

3 Power to extend Colonial Stock Acts to stock of territories under His Majesty's protection and of certain mandated territories

(1) His Majesty may, if a representation is made to him by the Treasury and the Secretary of State that it is desirable so to do, make an Order in Council directing that the Colonial Stock Acts, 1877 to 1900, shall be extended, subject to such modifications and to such conditions as may appear expedient to His Majesty, so as to apply to stock issued after the passing of this Act and forming part of the public debt of any territory specified in the Order which is under His Majesty's protection or in respect of which a mandate on behalf of the League of Nations has been accepted by His Majesty and is being exercised by His Majesty's Government in the United Kingdom.

(2) Before any Order in Council is made under this section, the draft of the Order shall be laid before each House of Parliament, and if either House, within the next subsequent twenty days on which that House has sat next after the draft is laid before it, resolves that an Address be presented to His Majesty against the draft or any part thereof, no further proceedings shall be taken thereon, but without prejudice to the making of a new draft Order.

(3) The expression " colonial stock " in section eleven of the [11 & 12 Geo. 5. c. 58.] Trusts (Scotland) Act, 1921, shall include any stock to which section two of the [63 & 64 Vict. c. 62.] Colonial Stock Act, 1900, applies by virtue of an Order in Council made under this section.

4 Amendment of 16 & 17 Geo.5 c.62

The Palestine and East Africa Loans Act, 1926, shall have effect in relation to any loan raised thereunder after the commencement of this Act by the Governments of Kenya, Uganda, Northern Rhodesia, Nyasaland or Tanganyika as if—

(a) there were included under each of the heads 1, 2 and 3 in the Second Schedule to the said Act the purpose of paying (during such period, not exceeding five years from the date on which the loan is actually raised, as may be determined by the Secretary of State with the approval of the Treasury) interest on so much of the said loan as is to be applied under that head;

(b) in paragraph (b) of subsection (2) of section one of the said Act a period not exceeding sixty years were substituted for a period not exceeding forty years.

5 Short title

This Act may be cited as the Colonial Development Act, 1929.