To ask the Secretary of State for Defence what assessment he has made of the value of money held by the Government following uncompleted arms sales to Iran in the 1970s; and in which account such money is held.
holding answer
Funds have been held on deposit in the Court Funds Office since 2002 for International Military Services (IMS), a private limited company for which the Secretary of State for Defence, my right hon. Friend Mr Hammond, is “ex officio” the principal shareholder. In that capacity, the Secretary of State assessed and agreed the most recently audited company's financial statements, which includes provision for the potential liability to be paid by IMS to Iran.
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