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Part of the debate – in the House of Commons at 12:00 am on 24th May 1976.

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I do not think that the issue should be presented as it is presented in the Bill, in the context of ownership by European Ferries. Had the bid been conducted in terms of the takeover code of the City Take-over Panel, short of final acceptance, shareholders would have been entirely free to look to any other valid officer, and that would have had to stand on its own feet. The criteria have been overridden by what—