§ Mr. FatchettTo ask the Chancellor of the Exchequer if access has been granted to Iraqi assets frozen in the United Kingdom in pursuance of a legal action against the Birmingham-based company BSA Tools. [16505]
§ Mr. Heathcoat-Amory[holding answer 26 February 1996]: The Bank of England advises that Iraqi funds were released on application to pay expenses incurred in pursuance of a legal action against BSA Tools, which was eventually settled out of court. This is in accordance with long established policy, where sanctions have been imposed, of allowing access to frozen funds to pay the cost of legal representation.