§ Mr. Hooleyasked the Chancellor of the Exchequer what steps are being taken to prevent evasion of currency regulations by the purchase of copper warrants.
§ Mr. Robert SheldonUnder the Exchange Control Act the Bank of England monitors the disposal of all warrants for delivery outside the Scheduled Territories issued to United Kingdom residents who are not participants in the Exchange Control Metals Scheme. However, the administration of exchange control as applied to warrants is currently under review.
§ Mr. Hooleyasked the Chancellor of the Exchequer if he will amend the regula- 574W tions on currency controls and tax avoidance, with reference to records and accounts of the London Metal Exchange.
§ Mr. Robert SheldonI have no reason to think that such amendment is needed; but if any evidence can be provided which shows that British currency or tax rules are being breached through the London Metal Exchange I shall be grateful to receive it.