§ Mr. Gryllsasked the Secretary of State for Industry whether Polsko Brytyjskie Przedsiewziecie Zeglugowe Sp.Z.Oo Szczecin will be subject to Polish or British law.
§ Mr. KaufmanThe company will be subject to Polish law.
§ Mr. Gryllsasked the Secretary of State for Industry why it was necessary for Polska Zegluga Morska and British Shipbuilders to form a joint company approved by him on 6th October to purchase the 22 ships to be built by British Shipbuilders.
§ Mr. KaufmanThe creation of a joint venture company reflects the partnership involved in the transaction.
§ Mr. Gryllsasked the Secretary of State for Industry what proportion of the cost of the ships to be bought by the Anglo-Polish Company, jointly owned by Polska Zegluga Morska and British Shipbuilders, will be financed through ECGD credits and how much through finance raised on the Euro-bond market.
§ Mr. Kaufman70 per cent. of the purchase price will be financed by a commercial credit guaranteed by ECGD. The remaining finance does not involve public funds and is a commercial matter for the parties concerned.