§ Mr. Cryerasked the Secretary of State for Northern Ireland how the proposed sale of new shares in the De Lorean Car Company will affect the holding of shares of the Northern Ireland Development Agency.
§ Mr. Adam ButlerThe Northern Ireland Development Agency's shareholding is in De Lorean Motor Cars Ltd., which is a Northern Ireland registered company whose authorised share capital has been fully issued. Under the terms of the agreement between the Northern Ireland Development Agency and the other shareholder, the United States-registered De Lorean Motor Company, no new shares can be issued in the De Lorean Motor Company without the prior approval of the Agency.
§ Mr. Cryerasked the Secretary of State for Northern Ireland what is the estimated number of American dealers who have returned deposits for De Lorean cars as a result of delays in production.
§ Mr. Adam ButlerThis is a matter for the company.
§ Mr. Cryerasked the Secretary of State for Northern Ireland what further request he has received from De Lorean Cars Ltd. for financial assistance; and whether sufficient information has been received from the company to enable him to make a decision.
§ Mr. Adam Butler[pursuant to his reply, 9 February 1981]: I refer the hon. Member to my answer to him on 26 January 1981—[Vol. 997, c. 319.] Full information supporting the application has been supplied by the company and is being considered.
§ Mr. Stallardasked the Secretary of State for Northern Ireland what further contacts have taken place between his Department and the De Lorean Car Company Ltd. following the identification of the short-term working capital requirement referred to in his answer of 26 January, Official Report, c. 319.
§ Mr. Adam Butler[pursuant to his reply, 9 February 1981]: My officials have continued to maintain close contact with the company since its application for assistance was received.
§ Mr. Cryerasked the Secretary of State for Northern Ireland whether he is satisfied that all relevant information relating to expenditure by De Lorean Cars Ltd. has been received at all times; and if he will make a statement.
§ Mr. Adam Butler[pursuant to his reply, 9 February 1981]: Yes. The Northern Ireland Development Agency receives detailed information about the company's performance and forward plans; consultants have also been retained to report regularly on these matters. My Department is also kept fully informed.
§ Mr. Cryerasked the Secretary of State for Northern Ireland if there is any obligation under the terms of the agreement for the Northern Ireland Department to provide further funding for De Lorean Cars Ltd.
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§ Mr. Adam Butler[pursuant to his reply, 9 February 1981]: No.
§ Mr. Cryerasked the Secretary of State for Northern Ireland what consultations with the trades union movement have taken place over the development and funding of the De Lorean Car Co.
§ Mr. Adam Butler[pursuant to his reply, 9 February 1981]: No formal arrangements exist for consultation with the trades unions about the provision of selective financial assistance to individual companies. Trade union officials sit on the Industries Development Advisory Committee and on the board of the Northern Ireland Development Agency.