§ Mr. Sackvilleasked the Secretary of State for Defence when the royal ordnance factories companies act company will be set up; and what it will be called.
§ Mr. PattieA public limited company will shortly be registered as Royal Ordnance plc; and my right hon. Friend plans, subject to the enactment of the Ordnance Factories and Military Services Bill, to transfer assets to it in the autumn to enable it to begin trading soon thereafter.
Steps will also be taken shortly to register four limited companies — Royal Ordnance Ammunition Limited, Royal Ordnance Explosives Limited, Royal Ordnance Small Arms Limited and Royal Ordnance Weapons and Fighting Vehicles Limited—which, on vesting day, will become wholly owned subsidiaries of Royal Ordnance plc; and to register two trustee companies for the operation of the proposed company pension schemes. None of these companies will begin trading until the Bill has been enacted, no Government assets being transferred until a scheme is made under the Act.