§ Mr. Godman Irvineasked the Secretary of State for the Colonies whether the trading corporation recently operating under Government auspices in the British Solomon Islands has been disposed of; and on what terms.
§ Mr. FisherOn the 30th June, 1962, the retail, wholesale and agencies business of the Corporation—an independent statutory organisation—was sold to the British Solomons Trading Company, a locally incorporated company in which D. J. Gubbay and Company (New Hebrides) Pty. Limited., has the controlling interest. The consideration for the stocks was to be determined by valuation, and the other assets in the sale were sold for £52,000.
54WThe Corporation remained in being to dispose of certain assets not included in the sale and to meet its creditors and collect outstanding debts. Most of this business has now been completed and on 28th March, 1963, the Corporation was dissolved and liquidators appointed.