§ Mr. Michael McNair-Wilsonasked the Minister of Aviation Supply when he proposes to set up a nationally-owned company to take over certain assets of Rolls-Royce Limited, as announced on 4th February, 1971.
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§ Mr. CorfieldA nationally-owned company, known as Rolls-Royce (1971) Ltd., is being registered today. This is the company to which certain of the aero-engine and marine and industrial gas turbine assets of Rolls-Royce Ltd. will be transferred, when they are acquired from the Receiver, as I announced in my statement of 4th February. The Chairman of Rolls-Royce (1971) Ltd. will be Lord Cole and the following have agreed to be members of the new company's board of directors:
- Mr. I. T. Morrow.
- Mr. H. Conway.
- Dr. S. G. Hooker.
- Sir William Cook.
- Sir St. John Elstub.
- Sir Charles Elworthy.
- Mr. Gordon Richardson.
- Sir Arnold Weinstock.
I am arranging to have copies of the new company's Memorandum and Articles of Association made available in the Library of the House of Commons.