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1130842
star this property registered interest false more like this
star this property date less than 2019-06-10more like thismore than 2019-06-10
star this property answering body
Department for Business, Energy and Industrial Strategy more like this
star this property answering dept id 201 more like this
star this property answering dept short name Business, Energy and Industrial Strategy more like this
star this property answering dept sort name Business, Energy and Industrial Strategy more like this
star this property hansard heading Takeovers: Conflict of Interests more like this
star this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government, further to the Written Answer by Lord Henley on 20 May (HL15640), whether they have reviewed the decision-making processes in investment institutions which hold equity investments in both the offeror and the offeree in a takeover situation but on behalf of different clients and where a particular outcome might favour one group of clients over another . more like this
star this property tabling member printed
Lord Myners more like this
star this property uin HL16209 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2019-06-19more like thismore than 2019-06-19
star this property answer text <p>Asset managers act as agents of investors in their funds. They are required to manage their funds in the best interests of all of their fund investors and to appropriately avoid, manage and disclose conflicts of interests that could, and do arise between different investor groups. This is a requirement of Markets in Financial Instruments Directive II (MiFID II).</p><p> </p><p>Asset managers should have policies, procedures and governance in place to effectively manage any conflicts arising from their stewardship obligations.</p><p> </p><p>The FCA has recently published a Policy Statement (PS 19/13) ‘Proposals to promote shareholder engagement: Feedback to CP 19/7 and final rules.’ This sets out final rules to implement requirements of the Revised Shareholder Rights Directive (SRD II). SRD II introduced new requirements to improve shareholder engagement and increase transparency around stewardship. The rules came into effect on 10 June 2019 requiring asset managers to disclose and make publicly available their policies on how they engage with the companies they invest in. They also require asset managers to provide certain information to institutional investors, including occupational pension schemes. The new rules are designed to foster stewardship, and better stewardship should lead to better decision making in relation to mergers and acquisitions.</p>
star this property answering member printed Lord Henley remove filter
star this property question first answered
less than 2019-06-19T16:42:37.67Zmore like thismore than 2019-06-19T16:42:37.67Z
star this property answering member
2616
star this property label Biography information for Lord Henley more like this
unstar this property tabling member
3869
unstar this property label Biography information for Lord Myners more like this
1131491
star this property registered interest false more like this
star this property date less than 2019-06-11more like thismore than 2019-06-11
star this property answering body
Department for Business, Energy and Industrial Strategy more like this
star this property answering dept id 201 more like this
star this property answering dept short name Business, Energy and Industrial Strategy more like this
star this property answering dept sort name Business, Energy and Industrial Strategy more like this
star this property hansard heading Business: Investment more like this
star this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government what assessment they have made of the report by KPMG 2018 Global CEO Outlook: UK, published on 11 June, in regard to business investment in the UK after Brexit. more like this
star this property tabling member printed
Lord Taylor of Warwick more like this
star this property uin HL16285 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2019-06-19more like thismore than 2019-06-19
star this property answer text <p>The report concluded that uncertainty had weakened CEOs’ confidence in their own country’s growth prospects since the 2017 report; which fell in 6 of the 11 top economies surveyed.</p><p>In the 2019 KPMG report, confidence in the UK economy improved and was matched in official statistics by a 0.5% expansion in business investment in the first quarter of 2019, according to the ONS ‘GDP first quarterly estimate’.</p><p> </p> more like this
star this property answering member printed Lord Henley remove filter
star this property question first answered
less than 2019-06-19T16:42:10.183Zmore like thismore than 2019-06-19T16:42:10.183Z
star this property answering member
2616
star this property label Biography information for Lord Henley more like this
unstar this property tabling member
1796
unstar this property label Biography information for Lord Taylor of Warwick more like this
1131490
star this property registered interest false more like this
star this property date less than 2019-06-11more like thismore than 2019-06-11
star this property answering body
Department for Business, Energy and Industrial Strategy more like this
star this property answering dept id 201 more like this
star this property answering dept short name Business, Energy and Industrial Strategy more like this
star this property answering dept sort name Business, Energy and Industrial Strategy more like this
star this property hansard heading Shopping Centres more like this
star this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government what steps they are taking to support businesses increase footfall in shopping centres. more like this
star this property tabling member printed
Lord Taylor of Warwick more like this
star this property uin HL16284 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2019-06-19more like thismore than 2019-06-19
star this property answer text <p>The Retail Sector is changing, we are committed to helping communities adapt and support the retail sector during this change. The Government and the retail sector recognise that action is needed to ensure the sector thrives. The creation of the Retail Sector Council demonstrates this commitment to the continued success of the retail sector.</p><p>In Budget 2018, we set out Our Plan for the High Street, a £1.6bn package to support the sustainable transformation of our high streets, including a £675m Future High Streets Fund and a High Streets Task Force to support local leadership.</p> more like this
star this property answering member printed Lord Henley remove filter
star this property question first answered
less than 2019-06-19T16:41:54.153Zmore like thismore than 2019-06-19T16:41:54.153Z
star this property answering member
2616
star this property label Biography information for Lord Henley more like this
unstar this property tabling member
1796
unstar this property label Biography information for Lord Taylor of Warwick more like this
1131489
star this property registered interest false more like this
star this property date less than 2019-06-11more like thismore than 2019-06-11
star this property answering body
Department for Business, Energy and Industrial Strategy more like this
star this property answering dept id 201 more like this
star this property answering dept short name Business, Energy and Industrial Strategy more like this
star this property answering dept sort name Business, Energy and Industrial Strategy more like this
star this property hansard heading Registration of Overseas Entities Bill more like this
star this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government when they intend to introduce the Registration of Overseas Entities Bill. more like this
star this property tabling member printed
Baroness Stern more like this
star this property uin HL16283 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2019-06-19more like thismore than 2019-06-19
star this property answer text <p>The Government published a Draft Registration of Overseas Entities Bill on 23 July 2018.</p><p> </p><p>A Joint Committee was appointed to consider and report on the Draft Bill. The Committee made recommendations in a report to both Houses, published on 20 May 2019. The Government welcomes the Committee’s thorough and helpful scrutiny of the Bill. We are considering their recommendations and will publish a response in due course.</p><p> </p><p>The Government intends to introduce the Bill to Parliament early in the second session. Following Royal Assent and the making of secondary legislation, the Government anticipates that the register will be operational in 2021.</p> more like this
star this property answering member printed Lord Henley remove filter
star this property question first answered
less than 2019-06-19T16:41:36.063Zmore like thismore than 2019-06-19T16:41:36.063Z
star this property answering member
2616
star this property label Biography information for Lord Henley more like this
unstar this property tabling member
2475
unstar this property label Biography information for Baroness Stern more like this
1131916
star this property registered interest false more like this
star this property date less than 2019-06-12more like thismore than 2019-06-12
star this property answering body
Department for Business, Energy and Industrial Strategy more like this
star this property answering dept id 201 more like this
star this property answering dept short name Business, Energy and Industrial Strategy more like this
star this property answering dept sort name Business, Energy and Industrial Strategy more like this
star this property hansard heading Energy: Research more like this
star this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government what steps they are taking to encourage the responsible development of materials for new energy technologies. more like this
star this property tabling member printed
Lord Taylor of Warwick more like this
star this property uin HL16334 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2019-06-19more like thismore than 2019-06-19
star this property answer text <p>We are in regular contact with the UK’s advanced materials sector, and seek to encourage regular engagement between advance material producers and potential end user sectors (including energy, transportation, construction, defence) to maximise the potential for collaboration, supporting the growth of advanced manufacturing in the UK.</p> more like this
star this property answering member printed Lord Henley remove filter
star this property question first answered
less than 2019-06-19T16:41:22.833Zmore like thismore than 2019-06-19T16:41:22.833Z
star this property answering member
2616
star this property label Biography information for Lord Henley more like this
unstar this property tabling member
1796
unstar this property label Biography information for Lord Taylor of Warwick more like this
1131900
star this property registered interest false more like this
star this property date less than 2019-06-12more like thismore than 2019-06-12
star this property answering body
Department for Business, Energy and Industrial Strategy more like this
star this property answering dept id 201 more like this
star this property answering dept short name Business, Energy and Industrial Strategy more like this
star this property answering dept sort name Business, Energy and Industrial Strategy more like this
star this property hansard heading Carbon Capture and Storage more like this
star this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government, further to the Written Answer by Lord Henley on 17 April (HL15078), when they will publish the details of the projects that have been successful as part of the Carbon Capture and Utilisation Demonstration Programme and the Call for Carbon Capture, Usage and Storage Innovation. more like this
star this property tabling member printed
Lord Mendelsohn more like this
star this property uin HL16318 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2019-06-19more like thismore than 2019-06-19
star this property answer text <p>We will be announcing the details of the successful projects in due course.</p> more like this
star this property answering member printed Lord Henley remove filter
star this property question first answered
less than 2019-06-19T16:41:06.71Zmore like thismore than 2019-06-19T16:41:06.71Z
star this property answering member
2616
star this property label Biography information for Lord Henley more like this
unstar this property tabling member
4286
unstar this property label Biography information for Lord Mendelsohn more like this
1132187
star this property registered interest false more like this
star this property date less than 2019-06-13more like thismore than 2019-06-13
star this property answering body
Department for Business, Energy and Industrial Strategy more like this
star this property answering dept id 201 more like this
star this property answering dept short name Business, Energy and Industrial Strategy more like this
star this property answering dept sort name Business, Energy and Industrial Strategy more like this
star this property hansard heading Solar Power: Faversham more like this
star this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government what assessment they have made of the proposed construction of a solar farm near Faversham by Cleve Hill Solar Park Ltd, in particular the impact of that development on the (1) local environment, in particular Graveney Marshes, (2) wildlife, and (3) availability of farmland; and what consideration they have given to the representations by local residents made to the Planning Inspectorate about such a development, in particular the 98 per cent of such representations which objected to the development. more like this
star this property tabling member printed
Earl Cathcart more like this
star this property uin HL16348 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2019-06-19more like thismore than 2019-06-19
star this property answer text <p>The Cleve Hill Solar Park proposal is the subject of an application for development consent under the Planning Act 2008. The application is currently being examined by The Planning Inspectorate with members of the public and other interested parties able to take part in the Examination. The Planning Inspectorate has published an Examination Timetable on its web-site. The Examination will consider a range of issues including biodiversity and nature conservation.</p><p>The Examination will last for up to six months with completion scheduled for 29 November 2019. The Planning Inspectorate then has three months to produce its report and recommendations for my rt. hon. Friend the Secretary of State for Business, Energy and Industrial Strategy who has up to three months to consider them, and all relevant matters that are drawn to his attention, before determining whether consent should be granted or refused.</p><p>The Secretary of State’s role in the decision-making process is quasi-judicial, so it is not appropriate for him or his Ministers to comment on the merits or otherwise of the solar park proposal at this stage.</p>
star this property answering member printed Lord Henley remove filter
star this property question first answered
less than 2019-06-19T16:40:58.19Zmore like thismore than 2019-06-19T16:40:58.19Z
star this property answering member
2616
star this property label Biography information for Lord Henley more like this
unstar this property tabling member
2463
unstar this property label Biography information for Earl Cathcart more like this
1130251
star this property registered interest false more like this
star this property date less than 2019-06-05more like thismore than 2019-06-05
star this property answering body
Department for Business, Energy and Industrial Strategy more like this
star this property answering dept id 201 more like this
star this property answering dept short name Business, Energy and Industrial Strategy more like this
star this property answering dept sort name Business, Energy and Industrial Strategy more like this
star this property hansard heading British Steel: Insolvency more like this
star this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government whether they plan to take any action to persuade Greybull Capital and its associates to contribute any gains made from its (1) investment in, and (2) loans to, British Steel towards reducing (a) the deficit of the British Steel Pension Scheme, and (b) the impact of British Steel's collapse on past and present employees. more like this
star this property tabling member printed
Lord Myners more like this
star this property uin HL16112 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2019-06-19more like thismore than 2019-06-19
star this property answer text <p>The Official Receiver was appointed liquidator of British Steel Limited. In his role as liquidator, the Official Receiver is under a statutory duty to investigate the cause of failure of the company and generally its business, dealings and affairs and has wide-ranging powers to obtain information, material, and explanations.</p><p> </p><p>My rt. hon. Friend the Secretary of State wrote to the Insolvency Service on 22 May requesting that the Official Receiver’s investigation not only looks at the conduct of the directors immediately prior to and at insolvency, but also at the investments made in the company, value transferred out of the company and whether any action by directors has caused detriment to creditors or to the pension schemes.</p><p> </p> more like this
star this property answering member printed Lord Henley remove filter
star this property question first answered
less than 2019-06-19T11:33:53.217Zmore like thismore than 2019-06-19T11:33:53.217Z
star this property answering member
2616
star this property label Biography information for Lord Henley more like this
unstar this property tabling member
3869
unstar this property label Biography information for Lord Myners more like this
1130249
star this property registered interest false more like this
star this property date less than 2019-06-05more like thismore than 2019-06-05
star this property answering body
Department for Business, Energy and Industrial Strategy more like this
star this property answering dept id 201 more like this
star this property answering dept short name Business, Energy and Industrial Strategy more like this
star this property answering dept sort name Business, Energy and Industrial Strategy more like this
star this property hansard heading British Steel: Insolvency more like this
star this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government when they estimate they will cease to provide financial support to British Steel; whether a specific event will trigger the end of that support; and whether that support will terminate when the Official Receiver has completed their work. more like this
star this property tabling member printed
Lord Myners more like this
star this property uin HL16110 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2019-06-19more like thismore than 2019-06-19
star this property answer text <p>The immediate priority following the Official Receiver’s appointment as liquidator of British Steel Limited was to continue the safe operation of the sites while options are considered. To enable this, the Government has provided an indemnity to the Official Receiver, who is now responsible for the operations.</p><p> </p><p>The Official Receiver is currently overseeing a sales process as they seek to sell the business. Trading will continue whilst a buyer is sought.</p><p> </p> more like this
star this property answering member printed Lord Henley remove filter
star this property question first answered
less than 2019-06-19T11:33:12.963Zmore like thismore than 2019-06-19T11:33:12.963Z
star this property answering member
2616
star this property label Biography information for Lord Henley more like this
unstar this property tabling member
3869
unstar this property label Biography information for Lord Myners more like this
1129546
star this property registered interest false more like this
star this property date less than 2019-06-04more like thismore than 2019-06-04
star this property answering body
Department for Business, Energy and Industrial Strategy more like this
star this property answering dept id 201 more like this
star this property answering dept short name Business, Energy and Industrial Strategy more like this
star this property answering dept sort name Business, Energy and Industrial Strategy more like this
star this property hansard heading British Steel: Loans more like this
star this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government whether the recent loan of £120 million to enable British Steel to meet its emissions trading compliance costs required a Ministerial direction. more like this
star this property tabling member printed
Lord Myners more like this
star this property uin HL16031 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2019-06-18more like thismore than 2019-06-18
star this property answer text <p>The Secretary of State for Business, Energy and Industrial Strategy has not issued any Ministerial Directions in respect of British Steel.</p><p>This loan agreement was fully commercial and state aid compliant, valued at around £120m, under Section 7 of the Industrial Development Act 1982. Under the agreement the Government purchased emissions allowances on behalf of British Steel ensuring it met its 2018 ETS obligations. Failure to comply with its ETS obligations would have led to a fine of around £500m, on top of the costs of ETS compliance of around £120m.</p><p>In return, under a deed of forfeiture, the company’s 2019 allowances will be assigned to the Government once issued, and the proceeds from selling these is expected to cover the costs of purchasing allowances for British Steel. The Government’s view is that the 2019 allowances will still be issued to British Steel in insolvency.</p><p>The Government’s assessment is that the Deed of Forfeiture offered value for money to the taxpayer, with benefits exceeding the costs, predicated on the level of confidence around security, even in the event of insolvency.</p><p>This position was supported by the independent Industrial Development Advisory Board which assessed the proposal in their statutory role and agreed with the Government’s value for money assessment.</p><p> </p><p> </p><p> </p>
star this property answering member printed Lord Henley remove filter
star this property question first answered
less than 2019-06-18T16:50:34.45Zmore like thismore than 2019-06-18T16:50:34.45Z
star this property answering member
2616
star this property label Biography information for Lord Henley more like this
unstar this property tabling member
3869
unstar this property label Biography information for Lord Myners more like this