§ 36. Mr. Sydney Irving
asked the Chancellor of the Exchequer how many residents in the United Kingdom are operating no-name bank accounts in Switzerland; and what representations have been made to the Swiss authorities to end this system.
No information is available. Under the Exchange Control Act, 1947, residents are required, unless specially authorised, to surrender all specified currency; failure to do so renders them liable to prosecution. The question of representations does not arise; the banking practice referred to is entirely with in the domestic jurisdiction of the Government concerned.
§ Mr. Irving
Is the right hon. Gentleman aware that many of these no-name accounts are held in Swiss banks? Would he agree that if British nationals were engaged in this practice it would be a highly discreditable thing to do and something to be discouraged?
If their object was to avoid our exchange control restrictions, I would certainly say that it would be deplorable.