§ 25. Lieut. - Colonel NALLasked the Prime Minister whether he is aware of the particulars of the Société Generale des Huiles de Pétrole published in the English Press and the arrangements stated to be entered into by that company with the Anglo-Persian Oil Company, Limited, securing the supply from the latter of large quantities of oil for a period of 20 years; whether the representatives of His Majesty's Government on the board of the Anglo-Persian Company have approved of these arrangements; and whether, having regard to the shares held by the Government in that company, he will lay before the House full particulars of the arrangements in question?
§ The FINANCIAL SECRETARY to the TREASURY (Mr. Hilton Young)This question appears to relate to an ordinary commercial transaction of the company. My right hon. Friend the Chancellor of the Exchequer does not think that he 1225 would be justified in asking the company for particulars of the arrangements for the purposes of publication.
§ Lieut.-Colonel NALLMay I ask whether contracts of this description will prejudice the supply of oil to this country?
§ Mr. YOUNGThat is a question of commercial policy, for the consideration, in the first place, of the country, and not of the directors.
§ Colonel WEDGWOODAre not the majority of the shares in the Anglo-Persian Oil Company held by the British Government, and, therefore, are not the British Government entitled to have some say in contracts entered into which may prejudice British interests?
§ Colonel WEDGWOODIs it not possible to call on the official directors on the Board of the company for a report on this arrangement?