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515520

registered interest
date	25/04/2016
answering body	Cabinet Office
answering dept id	53
answering dept short name	Cabinet Office
answering dept sort name	Cabinet Office
hansard heading	Public Sector: Procurement
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government whether they will review the effectiveness of the recommendations on public sector procurement by Sir Philip Green.
tabling member printed	Lord Myners
uin	HL7900
answer	answer is ministerial correction date of answer 09/05/2016 answer text <p>I refer the noble Lord to the answer I gave him on 11 April 2016 to Question HL7227.</p><p>As a result of the commercial and procurement reforms we made during the life of the last Parliament, we saved more than £21 bn.</p> answering member printed Lord Bridges of Headley question first answered 09/05/2016 13:38:49 answering member 4535 label Biography information for Lord Bridges of Headley
tabling member	3869 label Biography information for Lord Myners

515521

registered interest
date	25/04/2016
answering body	Department for Work and Pensions
answering dept id	29
answering dept short name	Work and Pensions
answering dept sort name	Work and Pensions
hansard heading	Pension Protection Fund
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government whether they will review the financial strength of the Pension Protection Fund.
tabling member printed	Lord Myners
uin	HL7901
answer	answer is ministerial correction date of answer 28/04/2016 answer text <p>The Pension Protection Fund is run by an independent Board and reviews its financial position regularly. It manages over £23 billion of assets and, in the 2014/15 Annual Report, the last published, declared a funding ratio of 115.1 per cent and a surplus of £3.6 billion.</p><p><strong> </strong></p> answering member printed Baroness Altmann question first answered 28/04/2016 11:31:07 answering member 4533 label Biography information for Baroness Altmann
tabling member	3869 label Biography information for Lord Myners

515522

registered interest
date	25/04/2016
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	Insolvency
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government whether they will review the legislation protecting creditors in the event of business failure.
tabling member printed	Lord Myners
uin	HL7902
answer	answer is ministerial correction date of answer 10/05/2016 answer text <p>We do keep insolvency legislation under review. We seek to ensure that the legislative framework strikes the right balance between rescuing a business, which may also save jobs, and the rights of creditors who may lose out financially.</p> answering member printed Baroness Neville-Rolfe question first answered 10/05/2016 11:36:46 answering member 4284 label Biography information for Baroness Neville-Rolfe
tabling member	3869 label Biography information for Lord Myners

515523

registered interest
date	25/04/2016
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	British Home Stores: Insolvency
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government whether they will establish an inquiry into the circumstances surrounding BHS being placed in administration, and in particular in to the implications for employees, pension scheme members and creditors.
tabling member printed	Lord Myners
uin	HL7903
answer	answer is ministerial correction date of answer 03/05/2016 answer text <p>When a company enters administration, the administrators have to report to my right hon. Friend the Secretary of State for Business, Innovation and Skills within three months on the conduct of the directors.</p><p>In the case of BHS the Insolvency Service is making early contact with the administrators to discuss the directors’ conduct and to consider whether further steps, such as a detailed investigation, may be necessary.</p><p>Where misconduct is established it can lead to disqualification of a director for between 2 and 15 years.</p> answering member printed Baroness Neville-Rolfe question first answered 03/05/2016 11:39:50 answering member 4284 label Biography information for Baroness Neville-Rolfe
tabling member	3869 label Biography information for Lord Myners

515524

registered interest
date	25/04/2016
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	British Home Stores: Insolvency
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government whether they have had any talks with the owners, managers or advisers to BHS; and whether they will take any action to protect employees, creditors and pensioners.
tabling member printed	Lord Myners
uin	HL7904
answer	answer is ministerial correction date of answer 03/05/2016 answer text <p>This is a worrying time for the BHS workforce and their families.</p><p>I understand that there are no plans for immediate store closures and that the administrators are looking to sell BHS as a going concern.</p><p>Clearly if this proves not to be possible, then we stand ready to help those affected, including through Jobcentre Plus’ Rapid Response Service, to help people move into new jobs as quickly as possible.</p><p>The Insolvency Service continues to liaise with the administrators, and stands ready to provide statutory assistance to employees in the event that the commercial situation changes.</p><p>I understand that the BHS schemes are in the early stages of a Pension Protection Fund (PPF) assessment period, during which the PPF will determine the final funding position of the scheme and whether it should assume responsibility for a scheme. We cannot comment on this, or any other individual case directly.</p> answering member printed Baroness Neville-Rolfe question first answered 03/05/2016 11:39:14 answering member 4284 label Biography information for Baroness Neville-Rolfe
tabling member	3869 label Biography information for Lord Myners

515525

registered interest
date	25/04/2016
answering body	Department for Work and Pensions
answering dept id	29
answering dept short name	Work and Pensions
answering dept sort name	Work and Pensions
hansard heading	Pension Protection Fund
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government whether they have considered the risk to the solvency of the Pension Protection Fund of owners of companies with funding deficits selling the business for a nominal consideration or to an unsuitable purchaser.
tabling member printed	Lord Myners
uin	HL7905
answer	answer is ministerial correction date of answer 28/04/2016 answer text <p>The independent Pensions Regulator, which oversees worked based pensions, has a statutory objective to reduce the risk of situations arising which may lead to compensation being payable from the Pension Protection Fund. It was given a significant range of anti-avoidance powers in the Pensions Act 2004, which can be deployed where it is appropriate and where the legal tests laid down in legislation are met.</p> answering member printed Baroness Altmann question first answered 28/04/2016 11:35:14 answering member 4533 label Biography information for Baroness Altmann
tabling member	3869 label Biography information for Lord Myners

514680

registered interest
date	21/04/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	London Stock Exchange: Deutsche Borse
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government what plans they have, if any, to review the competition implications for central counterparty clearing of the proposed takeover of the London Stock Exchange by Deutsche Bourse.
tabling member printed	Lord Myners
uin	HL7826
answer	answer is ministerial correction date of answer 06/05/2016 answer text <p>I refer the noble Lord to my written answer of 26 April (HL7583, HL7584, HL7585, and HL7586).</p><p><strong> </strong></p> answering member printed Lord O'Neill of Gatley grouped question UIN HL7827 HL7828 HL7829 question first answered 06/05/2016 12:23:55 answering member 4536 label Biography information for Lord O'Neill of Gatley
tabling member	3869 label Biography information for Lord Myners

514681

registered interest
date	21/04/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Financial Markets
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government what assessment they have made of whether the consolidation of central clearing houses will lead to an increase in risk concentration.
tabling member printed	Lord Myners
uin	HL7827
answer	answer is ministerial correction date of answer 06/05/2016 answer text <p>I refer the noble Lord to my written answer of 26 April (HL7583, HL7584, HL7585, and HL7586).</p><p><strong> </strong></p> answering member printed Lord O'Neill of Gatley grouped question UIN HL7826 HL7828 HL7829 question first answered 06/05/2016 12:23:55 answering member 4536 label Biography information for Lord O'Neill of Gatley
tabling member	3869 label Biography information for Lord Myners

514682

registered interest
date	21/04/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	London Stock Exchange: Deutsche Borse
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government what assessment they have made of whether the new holding company to be created to give effect to the proposed takeover of the London Stock Exchange by Deutsche Bourse will have to make its whole capital available to support a default by one of the two central clearing houses it will control, and which of those two clearing houses will receive capital priority in the event of a simultaneous or proximate failure of them both.
tabling member printed	Lord Myners
uin	HL7828
answer	answer is ministerial correction date of answer 06/05/2016 answer text <p>I refer the noble Lord to my written answer of 26 April (HL7583, HL7584, HL7585, and HL7586).</p><p><strong> </strong></p> answering member printed Lord O'Neill of Gatley grouped question UIN HL7826 HL7827 HL7829 question first answered 06/05/2016 12:23:56 answering member 4536 label Biography information for Lord O'Neill of Gatley
tabling member	3869 label Biography information for Lord Myners

514683

registered interest
date	21/04/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Financial Markets
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government which regulator will be responsible for overseeing the correlation algorithms used in cross margining positions held with LCH Clearnet and Euronext.
tabling member printed	Lord Myners
uin	HL7829
answer	answer is ministerial correction date of answer 06/05/2016 answer text <p>I refer the noble Lord to my written answer of 26 April (HL7583, HL7584, HL7585, and HL7586).</p><p><strong> </strong></p> answering member printed Lord O'Neill of Gatley grouped question UIN HL7826 HL7827 HL7828 question first answered 06/05/2016 12:23:56 answering member 4536 label Biography information for Lord O'Neill of Gatley
tabling member	3869 label Biography information for Lord Myners