Text of Measure on the Boxer Funds London, Dec. 18.
Last week the Government introduced the China Indemnity (Application) Bill, and although the second reading was put down for Monday, it was not taken 01 ill nor come Make further provision with respect to the application of the China Indemnity Fund and. moneys paid on account of the China Indemnity.
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1—(1) The China Indemnity (Application) Act, 1925, is hereby repealed, and the China Indemnity Fund formal thereunder and all sums received after the commencement of this Act on account of the: China Indemnity shall be dealt with in accordance with the provisions of this section, (2) The payments specified in the First Schedule to this Act shall be: made out of the China Indemnity Fund and the balance of the said Fund, s0 soon as all expenses proerly' chargeable thereto have been defrayed, shall be paid to the Chinese" Government Purchasing Commission constituted under this Act, (3) One half of every sum re-Jeeived after the commencement of this Act on account of the China Indemnity shall be paid to the said Commission and the other half shall be paid to such persons (herein. after referred to as "the Board of 'Trostees") as the Chinese Government may from time to time ap-Point to be trustees for the purpose of receiving those moneys and applying them to objects mutually' beneficial to China and the United Kingdom.
2—(1) There shall be constituted for the purposes of this Act a (Commission (hereinafter referred to fas "'the Commission") which shall be a body corporate by the name jot "The Chinese Government Pur-
petual" succession and a common.
Commission" with per-seal, and of which the functions: shall be—
(G) to enter into, and to supervise and secure the carrying out of, contracts for the supply and the delivery in China of such plant, machinery and other' articles and material, to be manufactured in each case within the United Kingdom, as the Chinese Government may from time to time request them to purchase; and (Gi) to apply all moneys received by them under this Act in discharging obligations incurred under, or in connection with, any such contracts as afore: said, and in defraying their general expenses, and, so far as those moneys' are not immediately required such purposes, ili establishing a reserve fund for the purpose of enabling the Commission to discharge similar obligations and expenses in (2) The Commission shall consist of a chairman, who stall be the diplomatic representative in London for the time being of China, a representative of the Chinese try of Railways and four other members, appointed from' time to time by' the Chinese Government, after consultation with the Board of Trustees, from a panel of persons Jcommended to those Trustees by the [Secretary of State as being persons lof standing with wide experience in business matters.
(8) Any income accruing to the Commission, whether under section one of this Act or from the deposit lor investment of moneys not required by them for immediate use, shall be exempt from all taxation.
(A) The provisions of the Second Schedule to this Act shall apply, with respect to the constitution, Jpowers and proceedings - of the China Indemnity (Application) Act,
Text read from the printed page and cleaned; old type leaves the occasional error.