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100781

registered interest
date	23/10/2014
answering body	Department for Business, Innovation and Skills
answering dept id	26
answering dept short name	Business, Innovation and Skills
answering dept sort name	Business, Innovation and Skills
hansard heading	Scottish Power
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Business, Innovation and Skills, what recent discussions he has held with stakeholders on the nature of the warranties sold by Scottish Power to its customers in the 1980s and 1990s.
tabling member constituency	Glasgow North East
tabling member printed	Mr William Bain
uin	211767
answer	answer is ministerial correction date of answer 29/10/2014 answer text <p>After this matter was raised by the Hon. Member for Bradford South (Gerry Sutcliffe) at Prime Minister’s Questions on 28 June 2014, I, along with officials from the Insolvency Service, held a meeting with the Hon. Member for Bradford South, Mr Sutcliffe, on 17 July 2014. Mr Sutcliffe is head of the All-Party Parliamentary Group for this issue, and therefore representative of stakeholders’ views. At that meeting he handed over further information from the liquidators of two companies which operated the extended warranty schemes sold by Scottish Power, and we agreed that the Insolvency Service would review this information to ascertain whether or not further investigation was appropriate. It was explained to Mr Sutcliffe that any decision whether or not to commence an investigation using s447 Companies Act would be confidential and the Insolvency Service would not be in a position to confirm that decision or comment further.</p><p> </p> answering member constituency East Dunbartonshire answering member printed Jo Swinson question first answered 29/10/2014 16:07:52 answering member 1513 label Biography information for Jo Swinson
tabling member	1610 label Biography information for Mr William Bain

99776

registered interest
date	20/10/2014
answering body	Department for Business, Innovation and Skills
answering dept id	26
answering dept short name	Business, Innovation and Skills
answering dept sort name	Business, Innovation and Skills
hansard heading	Scottish Power
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Business, Innovation and Skills, when he last reviewed the adequacy of prior investigations in connection with the nature of the warranties sold by Scottish Power to its customers between 1980 and 1999 and any potential losses suffered by such customers.
tabling member constituency	Glasgow North East
tabling member printed	Mr William Bain
uin	211060
answer	answer is ministerial correction date of answer 27/10/2014 answer text <p>It is not the policy of the Secretary of State to announce or comment on confidential enquiries conducted using powers contained in the Companies Acts.</p><p>However, the Secretary of State has recently received further information regarding the Extended Warranty schemes sold by Scottish Power between 1997 and 2001 from the liquidators of two companies involved in administering the schemes. Officials are currently reviewing this information together with the conclusions of an earlier investigation to determine what further action, if any, is appropriate.</p> answering member constituency East Dunbartonshire answering member printed Jo Swinson question first answered 27/10/2014 14:06:40 answering member 1513 label Biography information for Jo Swinson
tabling member	1610 label Biography information for Mr William Bain

99778

registered interest
date	20/10/2014
answering body	Department for Business, Innovation and Skills
answering dept id	26
answering dept short name	Business, Innovation and Skills
answering dept sort name	Business, Innovation and Skills
hansard heading	Scottish Power
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Business, Innovation and Skills, if he will reopen the enquiry into the nature of the warranties sold by Scottish Power to its customers between 1980 and 1999 and any potential losses suffered by such customers.
tabling member constituency	Glasgow North East
tabling member printed	Mr William Bain
uin	211059
answer	answer is ministerial correction date of answer 27/10/2014 answer text <p>The Secretary of State has recently received further information regarding the Extended Warranty schemes sold by Scottish Power between 1997 and 2001 from the liquidators of two companies involved in administering the schemes. Officials are currently reviewing this information together with the conclusions of an earlier investigation to determine what further action, if any, is appropriate, within the limits of his powers of investigation under the Companies Acts.</p><p> </p><p>The liquidators have also notified other regulators who may have an interest in this matter and who will be considering their own courses of action.</p><p> </p><p>It should be noted that any decision whether or not to commence an investigation using s447 Companies Act 1986 is confidential and the existence or otherwise of such an investigation will not be announced or commented on.</p><p> </p> answering member constituency East Dunbartonshire answering member printed Jo Swinson question first answered 27/10/2014 14:09:30 answering member 1513 label Biography information for Jo Swinson
tabling member	1610 label Biography information for Mr William Bain

63035

registered interest
date	20/06/2014
answering body	Department for Business, Innovation and Skills
answering dept id	26
answering dept short name	Business, Innovation and Skills
answering dept sort name	Business, Innovation and Skills
hansard heading	Companies: Ownership
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Business, Innovation and Skills, what steps his Department plans to take to ensure that the proposed beneficial ownership registry will properly identify the real controlling parties of all companies listed.
tabling member constituency	Glasgow North East
tabling member printed	Mr William Bain
uin	201641
answer	answer is ministerial correction date of answer 26/06/2014 answer text <p>The Small Business, Enterprise and Employment Bill will make provision for the implementation of a central registry of company beneficial ownership information. The legislation will set out the obligations and sanctions that will apply to companies and others to ensure that the central registry contains information on the ultimate owners and controllers of UK companies.</p> answering member constituency Cardiff Central answering member printed Jenny Willott question first answered 26/06/2014 14:41:02 answering member 1497 label Biography information for Jenny Willott
tabling member	1610 label Biography information for Mr William Bain

49213

registered interest
date	30/04/2014
answering body	Department for Business, Innovation and Skills
answering dept id	26
answering dept short name	Business, Innovation and Skills
answering dept sort name	Business, Innovation and Skills
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Business, Innovation and Skills, what meetings or telephone calls have taken place between Ministers and officials in his Department with (a) the Abu Dhabi Investment Authority, (b) BlackRock, (c) Capital Research, (d) Fidelity Worldwide, (e) GIC, (f) Henderson, (g) JP Morgan, (h) Kuwait Investment Office, (i) Lansdowne Partners, (j) Lazard Asset Management, (k) Och Ziff, Schroders, (l) Soros, (m) Standard Life, (n) Third Point and (o) Threadneedle in relation to the flotation of the Royal Mail since May 2010; and what was discussed in such meetings.
tabling member constituency	Glasgow North East
tabling member printed	Mr William Bain
uin	197339
answer	answer is ministerial correction date of answer 06/05/2014 answer text <p>Neither Ministers in the Department for Business, Innovation and Skills nor officials have discussed the Royal Mail flotation with any of these investors.</p> answering member constituency Sevenoaks answering member printed Michael Fallon question first answered 06/05/2014 12:00:00 answering member 88 label Biography information for Sir Michael Fallon
tabling member	1610 label Biography information for Mr William Bain

49214

registered interest
date	30/04/2014
answering body	Department for Business, Innovation and Skills
answering dept id	26
answering dept short name	Business, Innovation and Skills
answering dept sort name	Business, Innovation and Skills
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Business, Innovation and Skills, which priority investors in Royal Mail have subsequently sold all or part of their holdings of shares since the date of flotation; and what estimate he has made of the level of profits made in each case.
tabling member constituency	Glasgow North East
tabling member printed	Mr William Bain
uin	197387
answer	answer is ministerial correction date of answer 06/05/2014 answer text <p>Maintained by Royal Mail and is subject to uncertainties (e.g. funds can hold their shares through a range of nominees/custodians).</p><p> </p><p>Based on the Bloomberg register dated 23rd April, we estimate that more than half of the pilot fishing investors allocated shares remain invested and that they hold shares equal to more than 50% of their combined allocations.</p><p> </p><p>Given that the timings of sales and purchases are not available on a fund by fund basis, the Department does not know, and has not made any estimate, of any profits made by these investors (other than Lazard Asset Management whose representative told the Public Accounts Committee on 30 April the level of profit it made on the sale of Royal Mail shares for its clients).</p><p> </p><p> </p> answering member constituency Sevenoaks answering member printed Michael Fallon question first answered 06/05/2014 12:00:00 answering member 88 label Biography information for Sir Michael Fallon
tabling member	1610 label Biography information for Mr William Bain