HC Deb 11 June 1980 vol 986 cc212-3W
Mr. Brotherton

asked the Lord Privy Seal what is the total number of United Kingdom citizens currently waiting for payment of interest on Rhodesian Government securities.

Sir Ian Gilmour

The number is not known as the securities are not necessarily held in personal names or in the names of those beneficially entitled. The total number of accounts at present open in the registers for the 12 stocks issued in London on which interest payments are outstanding is some 12,000 ; this figure includes accounts which appear in more than one stock and accounts which are in more than one name.

Mr. Brotherton

asked the Lord Privy Seal whether he will consider making an immediate payment to holders of Rhodesian Government securities who are awaiting interest payments deferred during the illegal regime ; and if he will deduct that sum from the aid promised to the Government of Zimbabwe.

Sir Ian Gilmour

No.

Mr. Brotherton

asked the Lord Privy Seal for how long United Kingdom holders of Rhodesian Government securities have been waiting for payment of interest deferred during the illegal regime ; why there has been a delay in payment and when he expects payment to be made.

Sir Ian Gilmour

Payments becoming due in respect of interest on Southern Rhodesia Government securities issued in London were suspended by the illegal regime after the illegal declaration of independance in 1965. Discussions about a settlement are currently in progress between the Zimbabwean authorities and the Council of Foreign Bondholders.

Mr. Brotherton

asked the Lord Privy Seal what is the total sum in interest payments owing to United Kingdom holders of Rhodesian Government securities.

Sir Ian Gilmour

The total of contractual interest outstanding on Southern Rhodesia Government securities issued in London is approximately £20 million. A small proportion of this is due to non-United Kingdom resident holders.

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