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515916

	registered interest
	date	26/04/2016
	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, further to the Statement by the Business Minister, Anna Soubry, on 25 April (HC Deb, col 1174), what assistance they plan to offer BHS or Retail Acquisitions.
	tabling member printed	Lord Myners
	uin	HL7982
	answer	answer is ministerial correction date of answer 10/05/2016 answer text Workers and their families will be worried by the news that BHS has been placed in the hands of administrators. The Administrator must secure the best possible result for the business, starting with rescuing it if possible as a going concern. If this does not prove 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. answering member printed Baroness Neville-Rolfe question first answered 10/05/2016 14:49:46 answering member 4284 label Biography information for Baroness Neville-Rolfe
	tabling member	3869 label Biography information for Lord Myners

516408

	registered interest
	date	27/04/2016
	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	Comet Group: Insolvency
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty’s Government whether they will publish the report produced by the Insolvency Service on the collapse of the Comet Group, and whether they will take that report into account when conducting any review of the circumstances leading to the collapse of BHS.
	tabling member printed	Lord Myners
	uin	HL8046
	answer	answer is ministerial correction date of answer 05/05/2016 answer text <p>The Insolvency Service investigated Comet under provisions of the Companies Act, which means it is not possible to publish the report.</p><p>The Insolvency Service continuously builds on the experience gained in all its investigations to inform its work.</p> answering member printed Baroness Neville-Rolfe question first answered 05/05/2016 15:33:24 answering member 4284 label Biography information for Baroness Neville-Rolfe
	tabling member	3869 label Biography information for Lord Myners

516985

	registered interest
	date	03/05/2016
	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	Retail Acquisitions
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty’s Government whether they will investigate the compliance of professional advisers to Retail Acquisitions with know-your-customer and money-laundering regulations.
	tabling member printed	Lord Myners
	uin	HL8140
	answer	answer is ministerial correction date of answer 10/05/2016 answer text <p>A regulatory framework is in place to deal with non-compliance with know-your-customer and money-laundering regulations. However, this is not the focus of the current investigation by the Insolvency Service into BHS.</p><p>If, during the course of the current Insolvency Service investigation into BHS, it appears that there is good reason to widen the scope of its enquires, the Insolvency Service has powers under the Companies Act 1985 to initiate confidential enquiries.</p> answering member printed Baroness Neville-Rolfe question first answered 10/05/2016 14:54:29 answering member 4284 label Biography information for Baroness Neville-Rolfe
	tabling member	3869 label Biography information for Lord Myners

518108

	registered interest
	date	09/05/2016
	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	Retail Trade: Voucher Schemes
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty’s Government whether they will investigate the case for sales of gift vouchers by retailers to be backed by cash collateral held in independent escrow.
	tabling member printed	Lord Myners
	uin	HL8268
	answer	answer is ministerial correction date of answer 11/05/2016 answer text <p>Her Majesty’s Government has asked the Law Commission to consider the treatment of gift vouchers and pre-payments in the event of retailer insolvency. The Government will consider carefully any recommendations that may emerge on this question once the Law Commission’s report is published in the summer of 2016.</p> answering member printed Baroness Neville-Rolfe question first answered 11/05/2016 11:39:32 answering member 4284 label Biography information for Baroness Neville-Rolfe
	tabling member	3869 label Biography information for Lord Myners

522876

	registered interest
	date	06/06/2016
	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	Russia: Jehovah's Witnesses
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty’s Government whether they will consider linking the interest rate on student loans to the Consumer Price Index rather than the Retail Price Index.
	tabling member printed	Lord Myners
	uin	HL427
	answer	answer is ministerial correction date of answer 16/06/2016 answer text <p>The Government has no plans to link the interest rate on student loans to the Consumer Prices Index, rather than the Retail Prices Index. The Retail Prices Index has been used as the basis for calculating the interest rates applied to income-contingent student loans since they were introduced in 1998.</p> answering member printed Baroness Neville-Rolfe question first answered 16/06/2016 12:32:49 answering member 4284 label Biography information for Baroness Neville-Rolfe
	tabling member	3869 label Biography information for Lord Myners

523671

	registered interest
	date	07/06/2016
	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	Department for International Trade: Operating Costs
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty’s Government whether they will publish the report of the Insolvency Service into the collapse of BHS.
	tabling member printed	Lord Myners
	uin	HL486
	answer	answer is ministerial correction date of answer 15/06/2016 answer text <p><strong> </strong></p><p>It would not be appropriate for details of the ongoing investigation to be made public as that may prejudice the outcome of any criminal or civil cases which arise from it.</p><p> </p><p>If any directors are disqualified the Insolvency Service will publish the details of the disqualification on its website (for three months) and will notify Companies House, which keeps the statutory register of disqualifications. In addition, where the investigation uncovers matters of potential criminal misconduct or other regulatory breaches then this will be reported to the relevant authority for further action.</p><p> </p><p>Once the investigation is completed the Government will consider what detail it is appropriate to publish having full regard to any legal restrictions on publication, and also the legitimate public interest in the cause of the BHS failure.</p> answering member printed Baroness Neville-Rolfe question first answered 15/06/2016 14:50:02 answering member 4284 label Biography information for Baroness Neville-Rolfe
	tabling member	3869 label Biography information for Lord Myners

523690

	registered interest
	date	07/06/2016
	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	Trees: Urban Areas
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty’s Government whether, in the light of the current situation facing the UK's retail industry, they will reconsider their decision not to publish the report by the Insolvency Service into the collapse of Comet Group plc.
	tabling member printed	Lord Myners
	uin	HL505
	answer	answer is ministerial correction date of answer 15/06/2016 answer text <p>The Insolvency Service’s fact-finding inquiry into Comet was conducted under Section 447 of the Companies Act 1985. Section 449 of that Act makes it a criminal offence to share any information gathered in the course of the investigation with any person, other than in the strictly prescribed circumstances laid out in the Act.</p><p> </p><p>In the light of this legal position I am unable to reconsider the request to publish the report.</p><p> </p><p> </p> answering member printed Baroness Neville-Rolfe question first answered 15/06/2016 14:49:25 answering member 4284 label Biography information for Baroness Neville-Rolfe
	tabling member	3869 label Biography information for Lord Myners

523692

	registered interest
	date	07/06/2016
	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	Home Education
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty’s Government, further to the answer by Baroness Neville-Rolfe on 6 June (HL Deb, col 625), what factors make it difficult to estimate the cost to the taxpayer of the failure of BHS; and in what ways those costs can be covered by existing BHS resources.
	tabling member printed	Lord Myners
	uin	HL507
	answer	answer is ministerial correction date of answer 20/06/2016 answer text <p>It is too early to determine the cost to the taxpayer of BHS’ insolvency.</p><p> </p><p>When a company becomes insolvent, redundancy costs are paid from the National Insurance Fund, up to legal limits, as part of a statutory guarantee scheme administered by the Insolvency Service’s Redundancy Payments Service. The Redundancy Payments Service then becomes a creditor in the insolvency and can recover some of the debt should any assets be sold as part of the insolvency process. If an employee has a claim over and above the statutory amount paid by the Redundancy Payment Service, then they can also claim as a creditor in the insolvency.</p><p> </p><p>Therefore, the cost to the Government depends on the number of people made redundant, the amount paid to them and the amount recovered from the insolvency as a creditor.</p><p> </p> answering member printed Baroness Neville-Rolfe question first answered 20/06/2016 12:24:19 answering member 4284 label Biography information for Baroness Neville-Rolfe
	tabling member	3869 label Biography information for Lord Myners

541206

	registered interest
	date	20/07/2016
	answering body	Department for Business, Energy and Industrial Strategy
	answering dept id	201
	answering dept short name	Business, Energy and Industrial Strategy
	answering dept sort name	Business, Energy and Industrial Strategy
	hansard heading	ARM: SoftBank
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty’s Government whether they consulted experts in the field before publicly welcoming the acquisition of ARM Holdings by SoftBank, and whether they would similarly welcome a rival bid from an international private equity investor.
	tabling member printed	Lord Myners
	uin	HL1369
	answer	answer is ministerial correction date of answer 04/08/2016 answer text <p>SoftBank has made it clear that it intends to invest in ARM, keep its HQ in the UK, and at least double the employee headcount in the UK. The Government welcomes this. No rival bids for ARM have so far been made.</p> answering member printed Baroness Neville-Rolfe question first answered 04/08/2016 12:20:55 answering member 4284 label Biography information for Baroness Neville-Rolfe
	tabling member	3869 label Biography information for Lord Myners

541207

	registered interest
	date	20/07/2016
	answering body	Department for Business, Energy and Industrial Strategy
	answering dept id	201
	answering dept short name	Business, Energy and Industrial Strategy
	answering dept sort name	Business, Energy and Industrial Strategy
	hansard heading	ARM: SoftBank
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty’s Government how they propose to enforce the commitments they have obtained from SoftBank in connection with employment and the location of the headquarters of ARM Holdings.
	tabling member printed	Lord Myners
	uin	HL1370
	answer	answer is ministerial correction date of answer 30/08/2016 answer text <p>The Takeover Panel is responsible for enforcing the post offer undertakings given by SoftBank under the terms of the Takeover Code. Grant Thornton LLP has been appointed as an independent supervisor under the Code to monitor compliance with the undertakings. The Takeover Panel can require SoftBank to submit written progress reports in such form and as frequently as it requires and can take disciplinary action if the undertakings are not fulfilled. The Department for Business, Energy and Industrial Strategy will continue to monitor developments.</p> answering member printed Baroness Neville-Rolfe question first answered 30/08/2016 13:25:30 answering member 4284 label Biography information for Baroness Neville-Rolfe
	tabling member	3869 label Biography information for Lord Myners