§ 59. Mr. Lewisasked the Chancellor of the Exchequer whether he is aware that another British company has been sold to American interests; why he granted permission under the Exchange Control Act, 1947, for this transaction; and what action he proposes to take to safeguard British assets from being liquidated to the Americans.
§ Mr. SimonMy right hon. Friend is aware that British companies are from time to time acquired by non-residents in accordance with the policy described in Command paper 9790 of June, 1956; and he is satisfied that this policy continues to serve the real interests of the sterling area.