Clause 5.
 Honourable Crown Attorney: Subsection (ii) of the proviso has been
 changed to The amount expended on development by the Corporation during the
 currency of the agreement;". The reason for this amendment is to remove any
 ambiguity.
 Clauses 6-12 agreed to.
 -President : The only other-main point on which I would like your opinion is
 Section 13, the question of a tax holiday. There has been a certain amount of
 correspondence6 with the Corporation on this matter. They asked for 7 years and
 I replied that in the Aid to industries Bill provision was made for 5 years, and,
 therefore, I did not want to make .any difference between the concessions granted
 to the Corporation and any other Company. They accepted this proposal, provided
-the.tax holiday started with the third year of operation up to the seventh, and-
 that any losses- in the first 2 years would count' against -the profits after the tax.
 ,holiday. I then pointed out-that that would be a tax holiday for 7, years in any
 case; and suggested leaving it at-7 years. I didn't want to change the period of 5
 years because it would seem reasonable for other Companies to query the fact that
 the Corporation had been given better terms than they.
 SHonourable O. D. Brisbane: Except for the fact that this is' a special
 Ordinance for a particular Corporation and would not come under thegeneral Aid
 to Industries Ordinanee.
 SQuestion that clause 13 stand part of the bill put and-agreed to.
 Clauses 14--16 agreed to.
 Clause 17.
 Honourable Member for South Windward: ,The site on which the Power
 Station stands is the property of the Kingstown Board, and I don't see how
 Government could-arrange to sell something which does not belong to them. I
 think this action is high-handed, but I have no objection'to passing the bill.
 Honourable Crown- Attorney : I did not realise'that the land on which the
 power station yests was not the property of Government.
 Question that the Schedule as amended stand part of the Bill put and agreed
 to.
 Clause 1-Short title.-
 Question put and agreed to.
 Honourable Crown Attorney : I move that the Committee rise Council resume
 and the President.report to the Council.
 Honourable Colonial Treasurer : I second the motion
 Question put and agreed- to.
 President : .Honourable Members, I have to report that a bill.shortly entitled
 the Hydrp-electric Bill has passed through the Committee stage with certain
 amendments to sections 10 and 11 and to the Schedule.
 Honourable Crown Attorney ; I move that the President's report -be adopted.
 Honourable Colonial Treasurer : I second the motion.-
 .Question put and agreed to.
 Honourable Crown Attorney : I move the third reading of the- Hydro-electric
 Bill, 1951. ---
 Honourable Colonial Treasurer : I second. the motion.
 Question put and agreed to.
 Bill read a third time.