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1974 The new Department assumed responsibility for general overseas trade policy, commercial relations and tariffs, including those aspects of relations with the EEC. It became responsible for the work of the British Overseas Trade Board in export services and promotions, overseas finance and planning. In addition, it assumed responsibility for matters arising from companies' legislation, supervision of the insurance industry, the insolvency service, the Patent Office, civil aviation, marine and shipping policy, tourism, hotel and travel industries, the newspaper and film industry.
The Secretary of State for Trade also held the unpaid office of President of the Board of Trade.
1979 Following the general election, on 3rd May the Department of Prices and Consumer Protection was abolished and its responsibilities transferred to the Department of Trade.
1983 Following the general election, on 11 June, the Prime Minister announced that the Departments of Trade and of Industry would be merged to form the Department of Trade and Industry.