HC Deb 30 January 1985 vol 72 cc210-1W
36. Sir William van Straubenzee

asked the Secretary of State for Trade and Industry what steps he has taken to satisfy himself that control of British Aerospace will not pass into foreign hands when Her Majesty's Government dispose of their shares.

Mr. Tebbit

The articles of association of British Aerospace plc provide that the aggregate number of foreign-held shares in the company must not exceed 15 per cent. of the shares ordinarily eligible to be voted on a poll at general meetings of the company, and that the directors must be British citizens. The Government will retain a special share which will ensure that these provisions cannot be amended without the Government's consent.