§ 83. Mr. Staintonasked the Minister of.Aviation from what date the interest-free advances made by British Overseas Airways Corporation to British Overseas Airways Corporation-Cunard were replaced by a loan attracting the normal commercial rate of interest; whether this change involved voluntary relinquishment by either party of contractual rights; and what steps he is taking to secure for British Overseas Airways Corporation interest on moneys advanced prior to the recent change in procedure.
§ Mr. MulleyI would refer the hon. Member to the Answer which I gave on 11th July to a Question by my hon. Friend the Member for Leicester, North-East (Mr. Bradley). As regards contractual rights, the loan will continue to be covered by a debenture. As the original loan was a proper transaction within the commercial discretion of B.O.A.C., no further action is appropriate.