§ Mr. THURTLEasked the Chancellor of the Exchequer the amount of directors' fees received by the two Government nominees on the board of the Anglo-Persian Oil Company for the last financial year of the company; and whether these fees are retained by the directors in question or paid into the Exchequer?
Mr. SAMUELSince 1923 the position is as follows: The Government directors are remunerated on the same terms as ordinary directors of the Company, the amount being determined by the Company. I am informed that, under the Articles of Association of the Company, each director is entitled to receive remuneration for his services at the rate of £1,000 per annum. In addition to this, however, I understand that directors are or may be members of the boards of certain important subsidiary companies of the Anglo-Persian Oil Company, in respect of some of which they receive 2095W further remuneration. No payment is made by or to the Exchequer in the case of the two present Government directors.