§ 57. Mr. GILBERTasked the Prime Minister how many directors were appointed by Great Britain on the Suez Canal Company; the remuneration of a director per annum, and the qualifications required for such an appointment; and 1494 who were the present directors representing Great Britain, and for what term of years they were appointed?
§ Mr. BALDWIN (Joint Financial Secretary to the Treasury)His Majesty's Government appoints three directors of the Suez Canal Company. They are remunerated by the directors' fees of varying amounts paid by the company, and their qualifications must be such as in the judgment of His Majesty's Government fit them to represent this country on the Board. The present Government directors are Mr. H. T. Anstruther, Lord Downham, and Sir Ian Malcolm. There is no fixed period of appointment.
§ Mr. GILBERTCan the hon. Gentleman say at what the average fee would work out per year?
§ Mr. BALDWINI am afraid it is impossible to say what the average fee is. These fees are calculated on a small percentage of the profits of the company, and consequently fluctuate very much. In the most prosperous period they would be as much as £2,000 a year. At present they are more in the neighbourhood of £800, but I am speaking from memory.