HC Deb 21 October 1942 vol 383 c1997W
Mr. E. Smith

asked the Chancellor of the Exchequer which are the Axis-controlled holdings that make out the 50 per cent. Axis control in the share capital of the Bank for International Settlements?

Sir K. Wood

As I have informed the House, the figure of 50 per cent. is only a rough indication of the Axis shareholdings on the basis of the original subscriptions. It is based on the amount of shares subscribed in countries now occupied by the Axis, excluding those whose central banks have been transferred to this country and some others whose present position is so doubtful that it is not certain how or whether their votes would be admitted at the Annual General Meeting.