§ Mr. Gryllsasked the Secretary of State for Industry if he will list, and give details of, those subsidiary companies of the former Fairey Co. Ltd., acquired by the National Enterprise Board from the receiver, and describe the activities of those subsidiaries.
§ Mr. Les HuckfieldThe Information is as follows:
under the Shipbuilding and Aircraft Nationalisation Act to be completed;
(2) if he will explain further the formulae used by the official accountants in calculating total compensation payments in respect of companies and their subsidiaries being acquired under the Shipbuilding and Aircraft Nationalisation Act;
(3) if he will explain further the formulae used by the official accountants in calculating interim compensation payments in respect of companies and their 379W subsidiaries being acquired under the Shipbuilding and Aircraft Nationalisation Act;
(4) what information he has supplied to companies and their subsidiaries being acquired publicly under the Shipbuilding and Aircraft Nationalisation Act to explain the formulae used to calculate compensation to shareholders, including interim payments.
§ Mr. Les HuckfieldThe final payment of compensation in respect of each company will be made as quickly as possible after the amount has been determined, either by negotiation or, if necessary, by arbitration, in accordance with the provisions of the Aircraft and Shipbuilding Industries Act 1977. I have nothing to add to the explanation of the basis of the payments on account which my hon. Friend the Minister of State gave in his answer of 25th January to my hon. Friend the Member for Wallsend (Mr. Garrett)—[Vol. 942, c. 615–16]—and which was notified to stockholders' representatives.