§ Mr. Gordon Wilsonasked the Secretary of State for Energy what meetings he has had with the Dundee Corporation and the Dundee and District Chamber of Commerce over the location of the office of the British National Oil Corporation.
§ Mr. VarleyNone, but I expect to make an announcement shortly.
§ Mr. Skeetasked the Secretary of State for Energy why is it provided under Clause 10(1) that in the statement of accounts of the BNOC the corporation will not be required to show either profit or loss.
§ Mr. VarleyClause 10(1) of the Petroleum and Submarine Pipe-lines Bill does provide for the British National Oil Corporation's accounts to show profit and loss. Clause 10(2) provides that where consolidated accounts for BNOC and its subsidiaries are presented they need not show the profit and loss of the corporation separately from its subsidiaries. The latter provision is parallel to the provision in Section 149 of the Companies Act 1948.
§ Mr. Skeetasked the Secretary of State for Energy whether he is prepared to sell a substantial part of the equity of the BNOC to the public through a normal new company flotation.
§ Mr. VarleyNo.