§ 66. Mr. Fisherasked the Secretary of State for the Colonies what information he has about the proposal to institute State control of the sugar industry in Antigua: and what advice he has given
60W
Date Country Visited Purpose of Visit Total Cost £ (1) 26th Nov.-8th Dec., 1964. Mr. Greenwood, Secretary of State and 4 officials. South Arabia To hold constitutional discussions. 2,087 (2) 17th Nov.-28th Nov., 1964. Lord Taylor, Parliamentary Under-Secretary and 1 official. Eastern Caribbean To meet the Chairman and Members of the Regional Council of Ministers and to discuss the prospects for federation. 498 to the Antigua Government that any acquisition by it should be at a fair commercial valuation and that assets unconnected with the growing of sugar cane should be excluded from the governmental purchase.
§ Mr. Frederick LeeThe Antigua Sugar Factory Ltd. is owned as to 45 per cent. by the Antigua Government. In August of this year the Royal Bank of Canada exercised its right, under the conditions of a Mortgage Debenture between it and the Company, to appoint a Receiver and Manager. On the 20th October the Receiver and Manager offered for sale as one parcel all the company's property and assets. The notice of sale stated that the offer would remain open until the 11th November. I was informed by the Government of Antigua that they intended to make an offer for the company on the ground that they considered it essential in the public interest for the sugar industry in Antigua to be continued for some time.
As I have been advised that the Receiver's action is the subject of an application to the Courts for an injunction to restrain him, the hon. Member will understand that I cannot say any more at present.