§ 16. Mr. Fortescueasked the President of the Board of Trade which directors of British European Airways have notified him that they have a financial interest in firms engaged in chartering aircraft.
§ Mr. William RodgersNo member of B.E.A. Board has notified us of a financial interest in any company operating aircraft for charter use. One member has an interest in a travel agency which charters aircraft from operators.
§ Mr. FortescueIn view of the suggestion by B.E.A. that it will go into the charter business on a large scale, and in view especially of the provisions of the Air Corporations Bill, now before the 1436 House, does the Minister agree that it would be entirely improper for any member of the B.E.A. board who has an interest in a charter company or in a travel agency to be a permanent member of that board?
§ Mr. RodgersConflicts of interest are bound to occur from time to time in industry. The real safeguard is disclosure. We are proposing to take powers which will provide certain statutory backing for a practice which the Board of Trade has been carrying out informally. I think that this is the best way to do it.