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The Parliamentary Under-Secretary of State, Department for Work and Pensions (Baroness Hollis of Heigham): My honourable friend the Minister of State for Pensions (Malcolm Wicks) has made the following Written Statement.
We are aware that trustees of schemes whose sponsoring employers are currently in financial difficulty are uncertain as to whether they would be able to be considered for PPF compensation once the PPF is launched next year.
The Government are now able to state that eligible schemes whose sponsoring employer has already entered insolvency proceedings may still be able to receive PPF compensation. The scheme will still have to satisfy other PPF eligibility criteriain particular, the sponsoring employer will need to have an insolvency event after the introduction of the PPF and the pension scheme must not have commenced wind-up prior to that date.
The Pensions Bill provides a power that could be used to exclude schemes that have an insolvency event before the PPF is launched. We wish to make clear that we have no plans to use this power.
The Parliamentary Under-Secretary of State, Department of Trade and Industry (Lord Sainsbury of Turville): My honourable friend the Minister for Trade and Investment (Douglas Alexander) has made the following Written Statement.
Details of UK Trade & Investment's £16 million programme of support for UK company participation in supported groups at overseas exhibitions, seminars and
8 Nov 2004 : Column WS18
sector-focused outward missions will be placed in the Library of the House. Accredited trade organisations that bid for support to arrange groups are being informed.
These overseas exhibitions, seminars and sector-focused outward missions continue to be an important component of trade development work worldwide. UK Trade & Investment recognises that accredited trade organisations need the flexibility to react to changing international events and opportunities. The operation of the programme during the 200506 financial year will continue to provide this flexibility, within the constraints imposed by the overall budget provision, and the need for prudent budget management and efficient administration.
Lord Sainsbury of Turville: My honourable friend the Minister for Industry and the Regions (Jacqui Smith) has made the following Written Statement.
I would like to inform members of the House that, as part of a rolling programme of appointments, I have decided to appoint two new board members to the South-West of England Regional Development Agency. The new appointees will take up their positions on 14 December 2004 and their names are set out below.
The new board members will replace members whose terms of office end in December this year, and they will bring experiences from business and local authorities.
I have also agreed to extend the appointment of Nigel Costley by one year, so that his appointment is due to end on 13 December 2005.
Decisions on the appointments have been made following open competition in accordance with the guidelines set down in the Commissioner for Public Appointments code of practice, and following consultation with key national and regional players.
SWRDA (New Members)
SWRDA (one-year extension to appointment)
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