62. Lieut.-Colonel GUINNESSasked the Chancellor of the Exchequer whether, under the agreement entered into in May, 1914, between the Government and the Anglo-Persian Oil Company, the Government are entitled at any time to sell their holding of 5,000,000 shares in the company; and whether the nomination of ex-officio directors with a right of veto would lapse in case His Majesty's Government were to sell the whole or any part of their holding?
§ Sir R. HORNEThe answer to the first part of the question is in the affirmative. The answer to the second part is in the 240 negative, except in the event of an alteration of tihe Articles of Association of the company.
Lieut.-Colonel GUINNESSHas the Government considered realising the very large profit which this investment now shows?
§ Sir R. HORNEIn answer to the question and to many observations which have been made on the matter, there is no approach to any question of decision on such a matter at the present time.