HC Deb 27 July 1988 vol 138 cc305-6W
Dr. Marek

To ask the Secretary of State for Foreign and Commonwealth Affairs whether his Department requires to be furnished with information or has received information on(a) the beneficial interest and ownership of companies trading in or with Tristan da Cunha and (b) the beneficial interest of shares held by directors of those companies; and if he will make a statement.

Mrs. Chalker

My Department has been given the following information by companies trading in or with Tristan da Cunha:

  1. (a) Tristan Investments (Pty) Ltd., responsible for operating the fishing concession at Tristan da Cunha, is a South African registered wholly owned subsidiary of the Bermuda registered company South Atlantic Islands Development Corporation Ltd. The Bank of Butterfield and Son Ltd., Bermuda, holds 75 per cent, of the Corporation's issued shares to the order of financial institutions. Of these shares, a British/Swiss Financial institution, SG Warburg Bank AG, holds 7000 of the Corporation's shares (equivalent to 70 per cent, of the issued capital).
  2. (b) Table Bay Marine (Pty) Ltd., which acts as a buying agent for general merchandise for the Islands, is a wholly owned subsidiary of Palinauris Investments Ltd., a Bermuda registered trading company. The majority shareholding in Palinauris Investments is held by Field Nominees Ltd. of Bermuda.

Forward to