§ 64. Captain P. MACDONALDasked the Under-Secretary of State for the 1451 Colonies what concessions have been granted by the Government of Uganda to exploit the fisheries on the Victoria Nile between Ripon Falls and Foweira, and on the adjoining swamps and tributaries, including Lake Kioga; and what consideration has been given for any concessions?
§ The UNDER-SECRETARY of STATE for the COLONIES (Dr. Drummond Shiels)An agreement has been executed under which, subject to certain conditions relating to the provision of capital, a concession will be granted by the Government of Uganda for the exploitation of the fisheries in the area mentioned by the hon. and gallant Member. The concession will be worked by a company to be formed for the purpose, and the Protectorate Government will receive a royalty at the rate of 5 per cent. of the net profits earned by the company during the first three years, 7½ per cent. during the fourth and fifth years and 10 per cent. after the fifth year. The concession will run in the first instance for 25 years, the Government retaining the right to terminate it at the expiration of three years if the concessionaries have not commenced production and have failed to expend £10,000 on the provision of the necessary plant and works, and at any time after three years if the concession is not being satisfactorily developed. Strict provision is made in the concession for the safeguarding of native fishing rights and for the conservation of fish.
§ Captain MACDONALDIs the company a British company?
§ Dr. SHIELSYes, Sir.