§ Mr. MacdonaldTo ask the Secretary of State for Foreign and Commonwealth Affairs how much has been paid out under the Foreign Compensation (People's Republic of China) (Registration) Order 1980, and to how many claimants; and if he will estimate how much is still owing to current and potential claimants.
§ Mr. MaudeNo compensation was paid to claimants under the 1980 order which merely provided a framework for registering claims against China prior to the start of intergovernmental negotiations.
The China compensation fund was established by the Foreign Compensation (People's Republic of China) Order 1987. In January 1989 an interim distribution of 5 per cent. of the assessed value of a claim was begun by the Foreign Compensation Commission to successful bond claimants. To date, a total sum of approximately £504,000 has been paid in this way to 1,660 such bond claimants. Judicial determination of property claims is a more complex task than determination of bond claims. The payment of the balance owing in respect of bond claims and the full and final payment in respect of property claims will not be made until the final distribution from the fund. It is expected that this will be announced in the autumn.
Only when all claims against the fund have been determined will it be possible to assess the amount payable in relation to the assessed value of each claim. It is expected, however, at this stage that the percentage of the assessed value of a claim received by successful claimants will exceed 10 per cent.