HC Deb 26 October 1977 vol 936 c665W
Mr. Cockroft

asked the Chancellor of the Exchequer what action he has taken in implementing the EEC regulations relating to capital movements.

Mr. Robert Sheldon:

The extent to which the EEC directives on capital movements operate in the United Kingdom is modified by Article 124 of the Treaty of Accession and our authorisation under Article 108 of the EEC treaty to maintain restrictions on certain outward capital movements. Subject to these modifications, the directives operate normally in the United Kingdom.