Skip to main content

Britoil

Volume 124: debated on Thursday 17 December 1987

The text on this page has been created from Hansard archive content, it may contain typographical errors.

To ask the Chancellor of the Exchequer what consideration he is giving to exercising his power as a special shareholder in Britoil under article 71B of that company's articles of association.

I am currently considering whether any of the circumstances provided for under article 71B of Britoil's articles of association apply in the present situation.

To ask the Chancellor of the Exchequer if he will make it his policy to use Her Majesty's Government's special share in Britoil to prevent any takeover by any other company; and if he will make a statement.

If a takeover bid were made the Government would consider all the circumstances and then decide whether it would be appropriate to use the powers of the special share.