§ Mr. Peter Emeryasked the Chancellor of the Exchequer how many applications have been received by the Treasury for the export of capital by persons who wish to buy or build a house for their own use in the non-sterling area; and how many of these applications have been approved.
§ Mr. Maurice MacmillanIn general exports of capital by persons for this purpose are not permitted. No record is kept of the number of enquiries. Exceptionally, official exchange is allowed, subject to appropriate conditions, to applicants who establish a strong and urgent case for residence abroad on grounds of ill-health. During172W 1963 526 applications of this type were made, of which 337 were approved. About 600 applications were approved in 1963 for the use for the purchase of houses of funds resulting from the sale of properties outside the Sterling Area already owned by United Kingdom residents; these transactions did not involve a fresh export of capital.