§ Dr. Owenasked the Chancellor of the Exchequer whether any monetary transfers were made by Bunge and Co. after 3 April to an Argentine affiliated and controlled company; whether any steps were taken to prevent such transfers; and if he can give an estimate of the amount transferred.
§ Sir Geoffrey Howe[pursuant to his reply, 22 July 1982, c. 293]: The financial measures against Argentine 323W were introduced by the Gold, Securities, Payments and Credits (Argentine Republic) Directions 1982 which were laid in the House on 3 April. The governor of the Bank of England subsequently wrote to various financial institutions, including Bunge and Co. Ltd., informing then of the financial measures against Argentina. These prohibit persons or companies in the United Kingdom from carrying out an order to make a payment given by, or on behalf of, the Argentine Government or any person resident in Argentina, except with permission granted by or on behalf of the Treasury. No permissions have been granted to Bunge and Co. Ltd., and I am not aware of evidence that payments have been made in breach of the relevant directions.