§ Mr. Prescottasked the Chancellor of the Exchequer who are the Government-appointed directors of British Petroleum; if he intends to change them; and, if so, when.
§ Mr. Joel BarnettMr. Tom Jackson fills one of the two Government-appointed directorships on the British Petroleum Company board. He was first appointed on 12 March 1975 and was reappointed for a further term of office of three years in 1978. The other Government-appointed directorship fell vacant on 13 November 1978 following the retirement of Lord Greenhill of Harrow. The Government are considering possible candidates but are not yet in a position to announce the name of a successor.
§ Mr. Prescottasked the Chancellor of the Exchequer what instructions are given to the Government-appointed directors of British Petroleum; and what changes in these instructions have been made in the last four years.
§ Mr. Joel BarnettThe guidance and information given to individual Government-appointed directors of British Petroleum depends on their background and familiarity with Government policy. Government-appointed directors are
148Wwhat proportion this represents of (a) total income tax, (b) the total of income tax and corporation tax, and (c) total revenue.
§ Mr. Robert SheldonThe figures are as follows:
always free to consult with Ministers and officials as and when they need to and do so from time to time.
§ Mr. Prescottasked the Chancellor of the Exchequer (1) if he is satisfied with the present recommendations to British Petroleum and is subsidiaries concerning the control of overseas irregular payments; if he envisages any changes; and if he will make a statement;
(2) what recommendations have been made to British Petroleum about overseas irregular payments; in what way this represents a change in previous practice; and if he will make a statement.
§ Mr. Joel BarnettThe Government's general policy on these matters and the position on BP was set out in my statement to the House on 18 May 1976.—[Vol. 911, c. 1213–14.] Since then, the Government have endorsed the guidelines to multinational companies agreed in OECD in June 1976 and set out in the White Paper on International Investment: Guidelines for Multinational Enterprises—Cmnd. 6515. It is the responsibility of management of all British companies to ensure that they conduct their business within the law both at home and abroad. BP issued guidelines to its subsidiaries in June 1976 as foreshadowed in my statement.
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§ Mr. Prescottasked the Chancellor of the Exchequer it he requires British Petroleum to produce information on overseas irregular payments similar to that required by the American Federal Exchange and Judicial Commission.
Mr. Joel BurnettBP is fully aware of the Government's stated policy on such matters and has issued guidelines to its subsidiaries.