HC Deb 07 April 1976 vol 909 cc234-5W
Mr. Robert Taylor

asked the Secretary of State for Wales whether the National Enterprise Board has been consulted over his current offer to subscribe for 100,000 £1 cumulative redeemable 8.325 per cent. preference shares in the Penrad Group Limited; if so, why the offer is in his name rather than that of the Board; and, if not, why the Board was not consulted.

Mr. John Morris

The National Enterprise Board was not consulted over this offer since it was made under my powers under Section 7 of the Industry Act 1972. I did, however, consult the Welsh Industrial Development Advisory Board, and the offer made accorded with the Advisory Board's recommendation.