§ Mr. Wilkinsonasked the Secretary of State for Trade and Industry whether he will make a statement on his action with regard to the assets and activities of the International Life Insurance Company, a subsidiary of International Overseas Services.
§ Mr. RidleyThe International Life Insurance Company (U.K.) Ltd., has been required since July, 1971, in exercise of powers under Section 80 of the Companies Act, 1967, to maintain in the United Kingdom assets of equivalent value to the company's domestic liabilities and to place these assets or documents of title to them in the care of an approved custodian. Such assets or documents of title thereto may not be withdrawn from that custody without the written consent of my right hon. Friend and none have been so withdrawn.