HC Deb 02 April 1957 vol 568 c31W
78. Mr. Stonehouse

asked the Chancellor of the Exchequer the extent of the Government shareholding in British Petroleum Limited; the system adopted by the Government in making nominations to the board of this company; and what control the Government exercises over the policies of this company.

Mr. P. Thorneycroft

Her Majesty's Government hold £56,250,000 of issued ordinary stock and £1,000 issued preference stock. Two Government directors are appointed by the Treasury. The policy of successive Governments has been not to interfere in the commercial management of the company.