§ Mr. Stanleyasked the Secretary of State for Industry if he will give an assurance that he will not take any steps to give the British Steel Corporation a preferential position over publicly-quoted companies in acquiring the shareholding of Jessel Securities Limited in Johnson and Firth Brown.
§ Mr. BennThe sale of shares in Johnson and Firth Brown is a matter for negotiation between the vendors and prospective purchasers. Purchase of a large shareholding might fall to be considered both under the Treaty of Paris and the merger provisions of the Fair Trading Act. The British Steel Corporation is required additionally to seek my prior consent under Section 2(2) of the Iron and Steel Act 1967. As I indicated in my replies to Questions on 9th December—[Vol. 883, c. 6-8]—we are considering this shareholding in this part of the British steel industry in conjunction with the people most directly concerned.