HC Deb 27 June 1972 vol 839 cc280-1W
32. Mr. Maxwell-Hyslop

asked the Chancellor of the Exchequer what action he intends taking to prevent the directors of the Leopold Joseph Investment Trust Limited from evading the investment currency premium by the method announced by them in their prospectus published in a national newspaper on 16th June, 1972, a copy of which is in his possession.

Mr. Patrick Jenkin

None. Under rules which have operated for some years, the Bank of England can approve purchase of foreign currency securities with the proceeds of a foreign currency loan as an alternative to the use of investment currency.