HC Deb 21 March 1922 vol 152 cc239-40
62. Lieut.-Colonel GUINNESS

asked 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?


The answer to the first part of the question is in the affirmative. The answer to the second part is in the negative, except in the event of an alteration of tihe Articles of Association of the company.

Lieut.-Colonel GUINNESS

Has the Government considered realising the very large profit which this investment now shows?


In 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.