§ 36. Mr. Tim Smithasked the Secretary of State for Trade and Industry why the draft prospectus for the sale of shares in British Telecom plc proposes restrictions on general meetings of shareholders.
§ Mr. PattieThe draft prospectus for the sale of shares in British Telecom does not propose restrictions on attendance at general meetings. It does however give notice that if a very large number of persons are allocated shares the company may need to seek authority to restrict or regulate, so far as necessary, attendance at general meetings on a basis as fair as possible to all members and without prejudice to voting rights.
§ 37. Mr. Strangasked the Secretary of State for Trade and Industry what is his latest estimate of the full cost to public funds — including underwriters' fees — of the arrangements for the privatisation of British Telecom.
§ Mr. PattieDisclosure of actual costs will be made to Parliament by means of a Spring Supplementary Estimate.