Mr. Deputy Chairman, Sir, I brought thought that the explanation that I had given was a comprehensive explanation and that it will not lead to so much of discussions on the points that had already been clarified in my exposition. But hon. Members still raised some doubts. Perhaps you know, Sir, that for tea the licence can sold and purchased in the market. If somebody has got an export licence and he has not been able to arrange the goods, he can sell this licence in the market and somebody else can purchase it. The time leg between the purchase and export for tea and from here and the auctions abroad is always naturally short and sometimes it became very difficult to export in time because auctions take place abroad, and in that auctioneering period certain commitments are made and then the things have to be supplied in a definite period. They have been doing this thing for years and this measure only gives legal sanctity to what they have done been doing. As I said, under executive orders, they were exercising thier own discretion in the matter. They have been accepting these bonds taking the responsiblity upon themselves. As I said, I think it is more secure for those Customs collectors to have legal sanctity behind their actions. So, before taking any steps, they themselves will be consicousy of the legal consequences of the whole thing. Now, if they take place certain bonds in an irresponsible manner, the responsibility is not only of the importer or the exporter, the responsibility in legal terms in of the Customs Collector also. Therefore, Sir, the apprehension that has been expressed by the hon. Members sitting opposite is not quite connect. I can still assure the House on the point that so far as. He is the habit of referring to a number of books and making quotations from a number of them published in America or in other countries and particularly by some of the professors. I would also like to mention to him that even when companies are floated it requires a certain amount of confidence amongst the investing public and it is because a particular firm is managing a particular company that this confidence is created in the investing public.
