§ 33. Mr. Rankinasked the Secretary of State for the Colonies what consideration he has given to the recommendation of the Commission of Inquiry appointed in 1959 by the Governor of Hong Kong, that the production and distribution of electrical power in this Colony should be nationalised; and what action is being taken in the matter.
§ The Under-Secretary of State for the Colonies (Mr. Nigel Fisher)The arrangement referred to by my right hon. Friend's predecessor on 5th June, 1962, in reply to the hon. Member for Farnworth (Mr. Thornton) has failed to secure the consent of the shareholders. Other possible arrangements are now under consideration.
§ Mr. RankinAs this matter has now been under consideration for a very long 1479 time and no consent has been secured, will the hon. Gentleman give us an idea of the other arrangements which are being considered?
§ Mr. FisherYes. The Hong Kong Government are now considering two different courses. One is to negotiate separate control agreements. The second is to impose by legislation a degree of control upon these companies; but, of course, this might involve compensation to shareholders, so we have to be rather careful.