§ 64. Mr. Dayasked the Prime Minister the names and number of British Government directors, whether unofficial or otherwise, that at present serve on the board of the Suez Canal Company, the date of their appointments, and for how long these directors are appointed; can he state the amount of remuneration distributed amongst the board of directors for the 12 months ended the last convenient date; and whether same is divided equally amongst the directors?
§ Mr. ButlerAs the reply is somewhat long, I will, with the hon. Member's permission, circulate it in the Official Report.
§ Mr. ButlerI do not know whether the reply gives that exact information.
§ Mr. ThorneCan the right hon. Gentleman say whether there is one vacancy on this board?
§ Mr. ButlerI should require notice of that question.
§ Following is the reply:
§ Sir Ian Malcolm, the Earl of Cromer and Lord Hankey are at present the three British Government directors. There are no unofficial British Government directors. All directors are appointed by the general meeting of the shareholders for a period of eight years and are eligible for re-election. In the event of vacancies arising from the resignation or the death of directors, the Board makes a provisional appointment which requires confirmation by the next general meeting. The dates on which the British Government directors were appointed are, in the case of Sir Ian Malcolm, 3rd November, 1919, of the Earl of Cromer, 4th October, 1926, and of Lord Hankey, 1st August, 1938. The total amount of remuneration distributed amongst the Board of Directors for the year ending 31st December, 1937, was 17,044,732 French francs; the amount received by each director is not the same since it varies according to their duties and to the number of meetings attended.