§ Mr. WATERSONasked the Prime Minister upon whose authority controlling interests were taken up in the Anglo-Persian Oil Company, and what is the financial value of such interests?
Mr. CHAMBERLAINThe acquisition of controlling interests in the Anglo-Persian Oil Company was authorised by the Anglo-Persian Oil Company (Acquisition of Capital) Act, 1914, and the Anglo-Persian Oil Company (Acquisition of Capital) Amendment Act, 1919. The Government holding is the nominal sum of £5,200,000, in the form of ordinary and preference shares and debenture stock, of which £4,250,000 is paid up. No call on the balance can be made without the consent of the Treasury.