§ Mr. Austin Mitchellasked the Chancellor of the Exchequer what control of the number and timing of rights issues is exercised by or on behalf of the Treasury; and what is the purpose of this control.
§ Mr. Ian StewartRights issues, like the issue of any other sterling security of £3 million or more require timing consent from the Bank of England on behalf of the Treasury. The purpose of this procedure is to facilitate the flow of issues through a market by maintaining orderly conditions.