asked the Secretary of State for Industry what is the name of the Anglo-Polish company formed with PZM Polish State Holding Company to purchase the bulk carriers to be built by British Shipbuilders; what is the number of shares issued and the cash involved, and by whom they are held; who are the directors; when the company was registered; and when and whether he approved these actions.

The company, which will be resident in Poland, is to be called Polsko Brytyjskie Przedsiewziecie Zeglugowe Sp. zO.O., Szczecin. I understand that it has not yet been formally constituted. The consent of my right hon. Friend the Secretary of State to acquire shares in a joint venture company for the purposes of this contract was given on 6th October 1977.