§ Mr. Arthur Lewisasked the Secretary of State for Industry whether he will detail the safeguards which are available to ensure that, in accordance with normal share purchase and takeover procedures, 615W foreign persons are unable to take over British industrial concerns contrary to British national interests; and whether these can be applied in the case of Lonrho Ltd.
§ Mr. Les HuckfieldThe relevant powers are contained in the Exchange Control Act 1947, part V of the Fair Trading Act 1973, and part II of the Industry Act 1975. The use of these powers is considered in all cases where the national interest warrants.