§ 54. Commander BELLAIRSasked the Chancellor of the Exchequer whether he is aware that when the agreement for the amalgamation of the National Bank of India with one of the great London banks was ready for submission to the shareholders in 1917 the Treasury intervened and vetoed the transaction; and whether it is still the considered policy of the Treasury to oppose amalgamations between banks in Great Britain and banks in the Empire?
§ Mr. CHURCHILLAs regards the general policy of the Government in dealing with applications for bank amalgamations, I would refer my hon. and gallant Friend to the reply I gave on the 7th July, 1925, of which I am sending him a copy. For reasons which he will appreciate, I am not at liberty to make any statement as regards specific applications which may or may not have been submitted in the past.
§ Commander BELLAIRSDoes not that statement apply to banking amalgamations in the Mother Country only?
§ Mr. CHURCHILLNo, Sir, it is general in its effect, as my hon. and gallant Friend will see when I send the reply to him.