§ Mr. Rookerasked the Minister of Overseas Development if she will list the wholly-owned subsidiaries of the Crown Agents at the latest date stating the main functions of each and indicating any changes which have taken place since Command Paper No. 6445 was published.
§ Mrs. Hart:The information is as follows:
Four Millbank Nominees Ltd. with functions as shown in Cmnd. 6445. However, arrangements are being made for Principals' investments to be transferred to a bank nominee company in the near future. This company will then provide a nominee service for Crown Agents' assets only.
Four Millbank Holdings Ltd. which acts as a holding company for the Crown Agents' wholly-owned subsidiaries other than the two nominee companies.
Great Peter Nominees Ltd., formed in January 1978 to handle, as nominees, business undertaken on behalf of principals under the Crown Agents' money management service.
34WFour Millbank Investments Ltd.
Four Millbank Securities Ltd. The functions of these companies have been modified since publication of Cmnd. 6554. Four Millbank Investments Ltd. will shortly hold all Crown Agents' "own-account" investments in process of realisation, other than the Australian property investments.
Four Millbank Securities Ltd. will then hold only the Crown Agents' "own-account" Australian property investments in process of realisation through a wholly-owned Australian subsidiary, Abbey Capital Holdings Ltd., which was established in May 1976.
Greenshields, Cowie & Company Ltd., acquired in August 1974. Its shares wre originally held by Four Millbank Securities Ltd and it therefore does not appear in Cmnd. 6445. It acts as forwarding and shipping agents.
Crown Agents Services Ltd., originally formed in 1974 as Crown Agents Banking Services Ltd. but never traded, and for this reason not included in Cmnd. 6445. It was reactivated in 1977 and the name changed to enable it to carry out functions, including entering into contracts in the company's own name for the supply of equipment and the provision of services.
International Military Services Ltd. (formerly Millbank Technical Services Ltd.). Since 1st April 1977 the defence activities of this company have been the responsibility of myrighthon. Friend the Secretary of State for Defence.