§ Lord Underhillasked Her Majesty's Government:
Whether they will explain their approval of the transfer of the harbour assets of Sealink UK Limited, to its subsidiary company Sealink Harbours Limited (as reported in Commons Hansard, 15th April), in view of the categorical assurance by the Lord Bellwin, then Under-Secretary of State for the Environment, on 4th June 1981 (col. 1401), that the shipping and harbours of Sealink would be kept together as a single company.
§ Lord Lucas of ChilworthUnder Section 2 of the Transport Act 1981, the Railways Board was required to secure that Sealink UK Limited formed the "harbours company". Section 2 also required Sealink UK Limited to make within three months a scheme for the transfer of the harbour assets to the harbours company, and provided for the scheme to be approved by the Secretary of State. Sealink Harbours Limited was duly formed as a wholly-owned subsidiary of Sealink UK Limited, and the scheme transferring the assets to it was made and approved. As my noble friend Lord Bellwin explained at Third Reading (15th July 1981; col. 1239), there would be nothing to prevent the Railways Board selling the harbours company separately from the shipping business, but the two companies have commercial linkages which provide a strong incentive for keeping them together.