Department of Trade and Industry (1983-2007): Electrical Engineering, Chemical (Process...

Files in this series include the following subjects:

• An example of the loan guarantee in practice – in this instance for the liner Queen Mary II;
• Records on the history of the loan guarantee process;
• Ship Mortgage Finance Company (SMFC) committee meetings and agendas – these were often used to decide on who to give loan guarantees to and also contain details on who was involved;
• Records on changes to the loan guarantee scheme which were brought about by an EC Directive;
• A file on a protracted set of decisions on whether or not to be involved in a scheme where Libya were trying to make tankers – interesting given subsequent changes in the UK relationship with that country.

• Department of Trade and Industry, Minerals and Metals Division, 1983-1988
• Department of Trade and Industry, Shipbuilding and Electrical Engineering Division, 1986-1987

Department for Business, Energy and Industrial Strategy

Topics

Shipping

Conveyancing

Manufacturing

Trade and commerce

Middle East

Banking

The HS series of files were created by the Shipbuilding and Electrical Engineering Division (SEE), responsible for shipbuilding policy and finance support schemes as well as the marine equipment section. Main responsibility was the Home Shipbuilding Credit Guarantee Scheme. The scheme related to a guarantee given by the Secretary of State under Section 10 of the 1972 Industry Act in respect of a bank loan to a company for the building of a vessel. Essentially the government became the guarantor for the banks in exchange for holding the rights to the first mortgage on the vessel. The Ship Mortgage Finance Company (SMFC) were the Department's agent. Work also related to the Marine Equipment Industry, mostly pertaining to EC Directives, the Marine Technology Foresight Panel and companies in the business.