§ Dr Gilbert
asked the Secretary of State for Trade and Industry what powers he has to prevent United Kingdom companies from falling under foreign control; and if he will use those powers in the case of Shipping Industrial Holdings Limited.
§ Sir G. Howe
The main powers I have in relation to a change in the controlling interest in a United Kingdom company derive from the merger provisions of the Fair Trading Act 1973. If a bid were made for Shipping Industrial Holdings it would be considered for reference to the Monopolies Commission like any other proposal satisfying the criteria in the Act.
§ Dr. Gilbert
asked the Secretary of State for Trade and Industry if he has had discussions with the Italian Government or any other party about the affairs of Shipping Industrial Holdings; if he contemplates having any such discussions; and if he will make a statement.