After this matter was raised by the Hon. Member for Bradford South (Gerry Sutcliffe) at Prime Minister\u2019s 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\u2019 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>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/1513", "label" : {"_value" : "Biography information for Jo Swinson"} } , "answeringMemberConstituency" : {"_value" : "East Dunbartonshire"} , "answeringMemberPrinted" : {"_value" : "Jo Swinson"} , "dateOfAnswer" : {"_value" : "2014-10-29", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2014-10-29T16:07:52.9974936Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "26"} , "answeringDeptShortName" : {"_value" : "Business, Innovation and Skills"} , "answeringDeptSortName" : {"_value" : "Business, Innovation and Skills"} , "date" : {"_value" : "2014-10-23", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Scottish Power"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "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.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/1610", "label" : {"_value" : "Biography information for Mr William Bain"} } , "tablingMemberConstituency" : {"_value" : "Glasgow North East"} , "tablingMemberPrinted" : [{"_value" : "Mr William Bain"} ], "uin" : "211767"} , {"_about" : "http://data.parliament.uk/resources/99776", "AnsweringBody" : [{"_value" : "Department for Business, Innovation and Skills"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/99776/answer", "answerText" : {"_value" : "
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>
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>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/1513", "label" : {"_value" : "Biography information for Jo Swinson"} } , "answeringMemberConstituency" : {"_value" : "East Dunbartonshire"} , "answeringMemberPrinted" : {"_value" : "Jo Swinson"} , "dateOfAnswer" : {"_value" : "2014-10-27", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2014-10-27T14:06:40.7820516Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "26"} , "answeringDeptShortName" : {"_value" : "Business, Innovation and Skills"} , "answeringDeptSortName" : {"_value" : "Business, Innovation and Skills"} , "date" : {"_value" : "2014-10-20", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Scottish Power"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "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.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/1610", "label" : {"_value" : "Biography information for Mr William Bain"} } , "tablingMemberConstituency" : {"_value" : "Glasgow North East"} , "tablingMemberPrinted" : [{"_value" : "Mr William Bain"} ], "uin" : "211060"} , {"_about" : "http://data.parliament.uk/resources/99778", "AnsweringBody" : [{"_value" : "Department for Business, Innovation and Skills"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/99778/answer", "answerText" : {"_value" : "
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>
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>
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>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/1513", "label" : {"_value" : "Biography information for Jo Swinson"} } , "answeringMemberConstituency" : {"_value" : "East Dunbartonshire"} , "answeringMemberPrinted" : {"_value" : "Jo Swinson"} , "dateOfAnswer" : {"_value" : "2014-10-27", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2014-10-27T14:09:30.6637684Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "26"} , "answeringDeptShortName" : {"_value" : "Business, Innovation and Skills"} , "answeringDeptSortName" : {"_value" : "Business, Innovation and Skills"} , "date" : {"_value" : "2014-10-20", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Scottish Power"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "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.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/1610", "label" : {"_value" : "Biography information for Mr William Bain"} } , "tablingMemberConstituency" : {"_value" : "Glasgow North East"} , "tablingMemberPrinted" : [{"_value" : "Mr William Bain"} ], "uin" : "211059"} , {"_about" : "http://data.parliament.uk/resources/63035", "AnsweringBody" : [{"_value" : "Department for Business, Innovation and Skills"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/63035/answer", "answerText" : {"_value" : "
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>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/1497", "label" : {"_value" : "Biography information for Jenny Willott"} } , "answeringMemberConstituency" : {"_value" : "Cardiff Central"} , "answeringMemberPrinted" : {"_value" : "Jenny Willott"} , "dateOfAnswer" : {"_value" : "2014-06-26", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2014-06-26T14:41:02.828587Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "26"} , "answeringDeptShortName" : {"_value" : "Business, Innovation and Skills"} , "answeringDeptSortName" : {"_value" : "Business, Innovation and Skills"} , "date" : {"_value" : "2014-06-20", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Companies: Ownership"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "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.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/1610", "label" : {"_value" : "Biography information for Mr William Bain"} } , "tablingMemberConstituency" : {"_value" : "Glasgow North East"} , "tablingMemberPrinted" : [{"_value" : "Mr William Bain"} ], "uin" : "201641"} , {"_about" : "http://data.parliament.uk/resources/49213", "AnsweringBody" : [{"_value" : "Department for Business, Innovation and Skills"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/49213/answer", "answerText" : {"_value" : "
Neither Ministers in the Department for Business, Innovation and Skills nor officials have discussed the Royal Mail flotation with any of these investors.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/88", "label" : {"_value" : "Biography information for Sir Michael Fallon"} } , "answeringMemberConstituency" : {"_value" : "Sevenoaks"} , "answeringMemberPrinted" : {"_value" : "Michael Fallon"} , "dateOfAnswer" : {"_value" : "2014-05-06", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2014-05-06T12:00:00.00Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "26"} , "answeringDeptShortName" : {"_value" : "Business, Innovation and Skills"} , "answeringDeptSortName" : {"_value" : "Business, Innovation and Skills"} , "date" : {"_value" : "2014-04-30", "_datatype" : "dateTime"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "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.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/1610", "label" : {"_value" : "Biography information for Mr William Bain"} } , "tablingMemberConstituency" : {"_value" : "Glasgow North East"} , "tablingMemberPrinted" : [{"_value" : "Mr William Bain"} ], "uin" : "197339"} , {"_about" : "http://data.parliament.uk/resources/49214", "AnsweringBody" : [{"_value" : "Department for Business, Innovation and Skills"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/49214/answer", "answerText" : {"_value" : "
Maintained by Royal Mail and is subject to uncertainties (e.g. funds can hold their shares through a range of nominees/custodians).<\/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>
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>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/88", "label" : {"_value" : "Biography information for Sir Michael Fallon"} } , "answeringMemberConstituency" : {"_value" : "Sevenoaks"} , "answeringMemberPrinted" : {"_value" : "Michael Fallon"} , "dateOfAnswer" : {"_value" : "2014-05-06", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2014-05-06T12:00:00.00Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "26"} , "answeringDeptShortName" : {"_value" : "Business, Innovation and Skills"} , "answeringDeptSortName" : {"_value" : "Business, Innovation and Skills"} , "date" : {"_value" : "2014-04-30", "_datatype" : "dateTime"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "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.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/1610", "label" : {"_value" : "Biography information for Mr William Bain"} } , "tablingMemberConstituency" : {"_value" : "Glasgow North East"} , "tablingMemberPrinted" : [{"_value" : "Mr William Bain"} ], "uin" : "197387"} ], "itemsPerPage" : 10, "page" : 0, "startIndex" : 1, "totalResults" : 6, "type" : ["http://purl.org/linked-data/api/vocab#ListEndpoint", "http://purl.org/linked-data/api/vocab#Page"]} }