asked the Minister for Industry and Commerce if, in view of the long delay in introducing proposals for legislation to compensate G.N.R. shareholders, and of the falling market price of some of the stocks, he will allay the anxieties of the stockholders, by informing them now when leave to introduce a Bill will be sought and further if he will assure these stockholders that the take-over prices which formed the basis of the offer of the railway to the two Governments are the prices that will ultimately be paid to each class of shareholder and state when such payments will be made.
Ceisteanna—Questions. Oral Answers. - G.N.R. Shareholders.
The preparation of legislation to give effect to the joint acquisition of the G.N.R. has entailed delay which has been unavoidable but I hope shortly to be in a position to introduce agreed legislative proposals. While all the terms of the proposals for legislation have not been finally settled, the decision as to the provisions relating to the purchase price will be taken with due regard to the interests of the majority of the stockholders.
Payments to the stockholders cannot of course be made until the enabling legislation has been enacted.