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United Kingdom Commercial Corporation

Volume 360: debated on Thursday 9 May 1940

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44.

asked the Financial Secretary to the Treasury whether the directors of the United Kingdom Commercial Corporation have resigned their directorships of the companies with which they were associated; and what remuneration is to be paid to them?

The directors of the United Kingdom Commercial Corporation have not resigned their directorships of the companies with which they are associated, and I am not aware of any reason why they should be asked to do so. No remuneration is being paid to any of the directors, except to the managing directors, for their work in that capacity.

Are the managing directors connected with any existing company; and, if so, whom are these people to serve, the existing companies with which they are associated or the Government?

The managing directors are full-time directors. As I have said, there is no reason why the other directors should resign their other directorships because of their appointment to this Corporation.

Are the managing directors associated at all with existing companies? And might I ask the Financial Secretary to answer my other question, as to whether these people will be serving their private companies or the Government?

I do not think they are now associated with any companies, but I should like to have the question on the Paper, so as not to give any false impression.