British South Africa Company

HC Deb 24 November 1964 vol 702 cc158-9W

Mr. Wall

asked the Secretary of State for Commonwealth Relations what were the terms of the settlement reached between the British and Zambian Governments and the British South Africa Company.

Mr. Bottomley

The effect of the terms of the settlement was that the mineral rights in Zambia previously enjoyed by the British South Africa Company would be vested in the President of Zambia as from 24th October, 1964. The company would receive on an ex gratia basis £2 million from the British Government and £2 million from the Zambia Government free of Zambian tax.