§ Mr. Ian Lloydasked the Chancellor of the Exchequer (1) whether specific application was made to the Bank of England by the football club concerned, or bankers acting on its behalf, to exceed the limit of £100,000 laid down in section C14 of the Bank of England exchange regulations applying to payments made abroad for services;
(2) what criteria are normally applied in considering requests for the remission of sums abroad exceeding £100,000 for services under section C14 of the Bank of England exchange regulations; and how these criteria were applied to the decision to grant a sum of £700,000 for the payment of footballers' transfer fees.
§ Mr. Robert SheldonI will let the hon. Member have a reply as soon as possible.