§ Mr. Joel Barnettasked the Chancellor of the Exchequer what is the position of Her Majesty's Government in respect of 671W the sale in 1975 by Burmah Oil of its British Petroleum shareholding to the Bank of England; whether he plans to provide any public funds to procure a settlement: and what were the reasons for his decision including the legal position.
§ Sir Geoffrey HoweThe Burmah Oil Company Ltd. has instituted legal proceedings against the Bank of England for relief in respect of this sale. The Government would not consider it proper to intervene between the parties to these proceedings, which should be allowed to run their course in the normal way.