§ Mr. P. Williamsasked the Minister of Transport when he intends to announce the members of the Advisory Committee which will decide on applications for credit facilities under the recently announced Government scheme; and whether he will announce the terms of reference of this Committee.
§ Mr. MarplesThe names of the Chairman and three members of the Advisory Committee have already been announced. Apart from the Chairman, Lord Piercy, who is the Chairman of the Ship Mortgage Finance Company, they are: Mr. P. S. Beale of Samuel Montagu and Co.; Mr. A. G. B. Burney of Binder Hamlyn and Co; and Sir Leonard Paton, the Chairman of the British Shippers' Council. A fourth member, whose appointment is being announced today, is Mr. Henry Dumas, of Willis Faber and Dumas, who is also my Honorary Adviser on Marine Insurance.
The Terms of Reference of the Advisory Committee are as follows:
The Committee is established to advise the Minister of Transport on applications for loans 69W received under the Ministry of Transport Shipbuilding Credit Scheme, in accordance with the announcement made by the Minister in the House of Commons on 29th May, 1963. To this end, the Committee will
- (a) receive applications under the Scheme for loans to enable the building in United Kingdom shipyards of ships (other than fishing-vessels) of 100 gross tons or more to be owned by persons or companies resident in the United Kingdom, the Channel Islands or the Isle of Man;
- (b) inquire into the circumstances of each application, including the financial position of the applicant, the time in which he is prepared to have the ship built, and any other matters which appear to the Committee to be relevant; and
- (c) in the light of all the information available to the Committee, to make to the Minister such recommendations on each application as it appears to them will best safeguard the interests of the public and promote the purposes of the Scheme"