HC Deb 22 October 1976 vol 917 cc587-8W
Mr. Clemitson

asked the Secretary of State for Trade in how many cases in the last two years permission has been given for the variation of the trust deeds of unit trusts in order that investment may be made in overseas securities through foreign currency borrowing other than through the investment currency market.

Mr. Clinton Davis

Provision for investment in overseas securities by means of foreign currency borrowing is a common feature of the deeds of unit trust schemes authorised by my Department. During the past two years we have dealt with some 200 supplemental deeds amending earlier trust deeds. A number of these have included provisions of this nature, but it would take a disproportionate amount of time to identify them separately. If my hon. Friend wishes to raise a specific issue, perhaps he would write to me.