British Nuclear Fuels (Hansard, 5 May 1999)

§ Mr. Chaytor
To ask the Secretary of State for Trade and Industry if British Nuclear Fuels Ltd is required to seek the (i) advice and (ii) permission of his Department before making investments in companies. [82507]

§ Mr. Battle
BNFL is a Public Limited Company wholly owned by the Government and subject to the Companies Acts. BNFL is run on a commercial basis, with responsibility for day to day management and operations resting with the Board of the company. BNFL's plans for major investments are discussed with my Department as they arise. These together with BNFL's overall investment strategy are formally reviewed each year in the context of the company's Corporate Plan when it is submitted to Ministers for approval.

§ Mr. Chaytor
To ask the Secretary of State for Trade and Industry (1) if British Nuclear Fuels Ltd sought the advice of his Department before investing in Pangea Resources Ltd; [82511]
(2) if Ministers gave agreement for British Nuclear Fuels Ltd to invest in Pangea Resources Ltd. [82512]

§ Mr. Battle
No. I also refer my hon. Friend to the answer I gave the hon. Member for Blaenau Gwent (Mr. Smith) on 23 March 1999,Official Report, column 140.

§ Mr. Chaytor
To ask the Secretary of State for Trade and Industry what discussions his Department had with the Foreign and Commonwealth Office concerning British Nuclear Fuels Ltd's plan to invest in Pangea Resources Ltd prior to such investment being made. [82513]

§ Mr. Battle
My Department had no such discussions with the Foreign and Commonwealth Office on this matter.

§ Mr. Chaytor
To ask the Secretary of State for Trade and Industry when he was first informed of British Nuclear Fuels Ltd's investment in Pangea Resources Ltd; and if he will make a statement. [82510]

§ Mr. Battle
I was informed of BNFL's involvement in the Pangea project by my officials in September 1997.

§ Mr. Chaytor
To ask the Secretary of State for Trade and Industry if he will list the companies in which British Nuclear Fuels Limited has invested. [82509]

§ Mr. Battle
Details of BNFL's fixed asset and current asset investments, including its subsidiary and associated undertakings, are given in the notes to BNFL's 1998 Annual Report and Accounts, a copy of which is in the Library of the House.