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unstar this property registered interest false more like this
star this property date less than 2019-05-21more like thismore than 2019-05-21
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 remove filter
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 assurance they received that the terms on which they provided financial support to British Steel were at commercial rates. more like this
star this property tabling member printed
Lord Myners more like this
star this property uin HL15896 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 2019-06-04more like thisremove minimum value filter
star this property answer text <p>The agreement between the Government and British Steel regarding their EU Emissions Trading Scheme compliance was fully commercial and state aid compliant, under Section 7 of the Industrial Development Act 1982.</p><p>The terms of the commercial agreement are set out in letters from the Permanent Secretary to the Department for Business, Energy and Industrial Strategy to the Chair of the Public Accounts Committee and the Comptroller &amp; Auditor General, copies of which have been placed in the libraries of both Houses.</p><p>The Government carried out all of the necessary checks and due diligence which a typical commercial lender would undertake in relation to the company before making a commercial offer, including working closely with legal and commercial advisors to scrutinise the terms of the transaction.</p><p>The Deed of Forfeiture contains the terms and conditions which would be required by a commercial lender.</p> more like this
star this property answering member printed Lord Henley more like this
star this property question first answered
less than 2019-06-04T16:09:15.11Zmore like thismore than 2019-06-04T16:09:15.11Z
star this property answering member
2616
star this property label Biography information for Lord Henley more like this
star this property tabling member
3869
star this property label Biography information for Lord Myners more like this