§ 63. Brigadier-General Makinsasked the Minister of Transport whether his attention has been drawn to the expressed intention of the Oxford Electric Lighting Company, in connection with the proposed sale of their undertaking to the Wessex Company, to liquidate the company and pay off the preference shareholders at par; and whether, in drafting the proposed Electricity Bill, he will, in the interests of preference shareholders in electricity undertakings which it is proposed should be absorbed under the forthcoming Bill, take powers to promote amalgamation rather than liquidation?
Captain HudsonI am aware that proposals have been made for the winding-up of the company. My hon. and gallant Friend's suggestion has been noted for consideration, but he will not expect me to make any statement in advance of publication of the proposed Bill.
§ Brigadier-General MakinsWhile thanking the Parliamentary Secretary for the reply, may I ask him to draw the attention of the Minister of Transport to the serious effect that such an inequitable settlement of the interests of certain types of shareholders in electricity undertakings may have on the easy passage of this forthcoming Bill?