HC Deb 17 February 1960 vol 617 cc115-6W
11. Mr. Eden

asked the Secretary of State for Foreign Affairs what assistance he is giving to the firm acting as de-sequestration agents in Egypt to enable it to complete its work without further delay.

Mr. Selwyn Lloyd

British owners of property in Egypt which was sequestrated by Egyptian Proclamation No. 5 of 1st November, 1956, and released from sequestration on 1st March, 1959, have in many cases been able to apply direct for the return of their property. Where they have not been able to do this they have employed agents. The firm which has undertaken the bulk of this work is Messrs. Toplis and Harding (Middle East) Limited of 13–14 Union Court, Old Broad Street, E.C.2. Although this is a private firm it has been in close touch with the Foreign Office. We have given the firm all possible help and advice.

12. Mr. Eden

asked the Secretary of State for Foreign Affairs what representations have been made to him on behalf of those British subjects who have assets in Egypt which, despite the terms of the Anglo-Egyptian Financial Agreement, have not yet been released by the Sequestrator-General.

Mr. Selwyn Lloyd

Representations have been made from time to time by claimants that their applications for the return of their sequestrated property have been in the hands of the Egyptian Sequestrator-General for a longer period than the three months provided for in Annex B (4) (i) of the Anglo-Egyptian Financial Agreement. It is true that in the early stages of desequestration delay in releasing the property was common, but this was largely due to the fact that neither the Sequestrator nor the claimants were familiar with the somewhat complicated procedures laid down. The position then improved until by the middle of January a great majority of all property had been released within three months of the date of application.

The British Diplomatic Mission in Cairo has taken up with the United Arab Republic authorities all cases where the three month period has been exceeded, and in most cases the property has been released shortly afterwards.