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answer › answer text	%3Cp%3EThe 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.%3C/p%3E%3Cp%3EThe 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 & Auditor General, copies of which have been placed in the libraries of both Houses.%3C/p%3E%3Cp%3EThe 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.%3C/p%3E%3Cp%3EThe Deed of Forfeiture contains the terms and conditions which would be required by a commercial lender.%3C/p%3E
max date	2019-06-14
hansard heading	British Steel: Loans

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1128011

human indexable

published

registered interest

answer date

05/06/2019

date

21/05/2019

date tabled

21/05/2019

ddp created

21/05/2019 21:46:24

answering body

Department for Business, Energy and Industrial Strategy

question status

Tabled

answering dept id

201

answering dept short name

Business, Energy and Industrial Strategy

answering dept sort name

Business, Energy and Industrial Strategy

ddp modified

21/05/2019 21:56:02
04/06/2019 16:10:06

hansard heading

British Steel: Loans

house id

identifier

HL15896

legislature

25277

	pref label	House of Lords

parliament number

question first answered

04/06/2019 16:09:15

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.

session

2017/19

session number

tabling member printed

Lord Myners

title

House of Lords Tabled Parliamentary Question 2017/19 HL15896

type

WrittenParliamentaryQuestion

uin

HL15896

version

written parliamentary question type

Ordinary

answer

answer

	is ministerial correction

creator

3869

	label	Biography information for Lord Myners

publisher

25277

	pref label	House of Lords

tabling member

3869

	label	Biography information for Lord Myners