Colonial Development Act 1929

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.