§ Lord Sandys
asked Her Majesty's Government:
Whether they are yet able to announce the timing of vesting day for Royal Ordnance plc.
§ The Parliamentary Under-Secretary of State for the Armed Forces (Lord Trefgarne)
Vesting day for Royal Ordnance plc was 2nd January 1985. On that day a scheme was made pursuant to Section 1 of the Ordnance Factories and Military Services Act 1984 which transferred the assets and liabilities of the ROF trading fund and certain other establishments to Royal Ordnance plc. The shares in the company are all in the ownership of my right honourable friend the Secretary of State for Defence. A copy of the scheme has been laid before Parliament. I have placed a copy of the Memorandum of Understanding between my right honourable friend the Secretary of State for Defence and the chairman of Royal Ordnance plc in the Library.