Letter to the Parliamentary Commissioner
for Standards from Mr Arif Husain, General Mediterranean Holding
Thank you for your letter of 25 September 2001.
In answer to your questions concerning Mr Vaz, we
are able to give you the following information:
1. Mr Vaz was offered directorship of General
Mediterranean Holding (UK) Ltd, but he resigned soon thereafter
without attending any of the board meetings.
2. The proposal put to Mr Vaz was that he would
be entitled to an annual fee of US$20,000, based upon his requirement
to attend at least two board meetings a year.
3. The proposed fee was communicated to Mr Vaz
on 26 January 1999.
4. As Mr Vaz had resigned before any board meetings
we called, no remuneration was due or paid to him.
We trust that the above information is sufficient
for your purposes.
4 October 2001