§ Mr. CousinsTo ask the President of the Board of Trade if he will list the various target investment limits on Government voting rights imposed under section 65 of the Telecommunications Act 1984; and whether any further changes are under review.
§ Mr. LeighUnder the terms of the Telecommunications Act 1984 (Government Shareholding) Order 1992, (Statutory Instrument number 631 of 1992), the target investment limit for the Government shareholding in British Telecommunications plc is set at 22.209 per cent. of the voting rights exercisable in all circumstances at general meetings of the company. This replaces the earlier limit, set 771W out in the Telecommunications Act 1984 (Government Shareholding) Order 1985, of 49.803 per cent. of such voting rights. The Government plan to sell a part of their remaining shareholding in BT in 1993–94. They may wish to further revise the target investment limit again in the light of any sale of shares which takes place.