§ 41. Mr. Scott-Hopkinsasked the Minister of Power by what authority he has authorised the nationalised industries to raise a capital loan in Europe; how much is involved; and if he will make a statement.
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§ Mr. MasonI authorised the Gas Council to borrow in Germany under my powers in Section 4 of the Gas and Electricity Act, 1968. I consented to borrowing by the United Steel Companies under my powers in Section 19(3) of the Iron and Steel Act, 1967. Details of these loans were given in my hon. Friend's reply to the hon. Member for Sheffield, Hallam (Mr. J. H. Osborn) on 10th June. —[Vol. 784, c.224.] I have since consented, also under my powers in Section 19(3), to a borrowing by B.I.S.C. (Ore) Ltd. in Portuguese escudos amounting to about £30,000.