§ Mr. PikeTo ask the Chancellor of the Exchequer in what undertakings Her Majesty's Government retain a golden share; and in what circumstances rights relating to that golden share are to be used by Her Majesty's Government.
§ Sir George YoungThe table shows all the companies in which the Government holds special—or "golden"—shares. Where this is applicable, the table shows the expiry date on or before which the Government may redeem a special share. Special shares are held by—or on behalf of—the Secretary of State with policy responsibility for the privatised industry. The rights attaching to individual special shares vary and it is not possible to define in advance the circumstances in which they will be exercised.
Companies in which special shares are held Company Expiry dale Cable and Wireless — Sealink Stena Line — BT — British Aerospace — VSEL Consortium — British Gas — Rolls-Royce — BAA — Eastern Electricity 31 March 1995 East Midlands Electricity 31 March 1995 London Electricity 31 March 1995 Manweb 31 March 1995 Midlands Electricity 31 March 1995 Northern Electric 31 March 1995 Norweb 31 March 1995 Seeboard 31 March 1995 Southern Electricity 31 March 1995 South Wales Electricity 31 March 1995 South Western Electricity 31 March 1995 Yorkshire Electricity Group 31 March 1995 National Grid Company — National Grid Holding — National Power — PowerGen — Scottish Power — Scottish Hydro-Electric — British Technology Group 31 March 1997 British Technology Group International 31 March 1997 Northern Ireland Electricity — Belfast International Airport —