§ Mr. Gryllsasked the Secretary of State for Industry under which powers he proposes to establish and finance National Shipbuilders and Repairers Ltd.
§ Mr. Les Huckfield, pursuant to his reply [Official Report, 14th February 1977, Vol. 926, c. 73], gave the following information:
The company will be incorporated under the Companies Acts 1948–67. It will assist my right hon. Friend the Secretary of State in carrying out his functions under Part II of the Industry Act 1972; for that purpose it will be financed under the powers in Section 17 of that Act. My right hon. Friend will seek authority under the Appropriation Act for any other activities that he may wish the company to undertake.