| answer text |
<p>UKGI’s delegated authority is limited to its operating budget of £13.7m, which
is, to a material extent, expended on staff costs. At its most recent reporting date
of 31 March 2020, UKGI had no assets or liabilities other than its normal operating
debtors and creditors, and no contingent liabilities. UKGI has no delegated authority
beyond this to take on (a) directly or (b) indirectly (i) assets, (ii) liabilities,
(iii) contingent liabilities or (iv) other commitments or obligations in managing
shareholdings or the delivery of the objectives, without the consent of HM Treasury.</p>
|
 |
