§ Mr. Stanley
asked the Secretary of State for Industry why the £162.5 million of financial assistance to Chrysler United Kingdom Limited was made available under Section 8 of the Industry Act 1972 while the £26,179,765 of financial assistance to Herbert Limited was made available under Section 8 of the Industry Act 1972 as amended by Section 22 of, and Part I of Schedule 4 to, the Industry Act 1975.
§ Mr. Kaufman
The assistance made available to Herbert Limited involves acquisition of more than half of the equity share capital. The provisions referred to in the Industry Act 1975 removed the restriction against such an acquisition under Section 8 (3) (b) of the Industry Act 1972. No acquisition of 894W shares is involved in the assistance to Chrysler (UK) Limited and it can, therefore, be provided without reference to the amending provisions of the 1975 Industry Act.