§ Mr. Cartwrightasked the Chancellor of the Exchequer what exchange control regulations govern the payment of transfer fees by association football clubs in the United Kingdom to clubs in Argentina; what application has been made under these regulations by Tottenham Hotspur Football Club; and when it is likely to be approved.
§ Mr. Robert SheldonPayments overseas for the transfer of footballers to clubs in this country are considered for exchange control purposes to be payments for services and can therefore be met with foreign currency obtained at the current rate in the official foreign exchange market. In the case of Tottenham Hotspur Football Club the exchange control formalities have been completed.