§ Baroness Noakesasked Her Majesty's Government:
Whether they will set out the constitution, membership, responsibilities, reporting lines and governance arrangements of the Shareholder Executive. [HL4771]
§ Lord Sainsbury of TurvilleThe Shareholder Executive is a team located in the DTI. Its responsibility is to improve the Government's shareholding functions by providing advice to Ministers and officials on corporate governance frameworks, the setting of objectives, scrutiny of business plans, monitoring of performance, appointments and the approval of remuneration frameworks.
The team currently has 56 staff from private sector and Civil Service backgrounds.
The Shareholder Executive reports to Sir Andrew Turnbull for the overall success of its mission to professionalise the Government's shareholder function. It reports to my right honourable friend the Secretary of State on the DTI's shareholdings and other financial interests in British Energy plc, British Nuclear Fuels plc, Export Credits Guarantee Department, Royal Mail Holdings plc and the United Kingdom Atomic Energy Authority.
It reports to the Chief Secretary to the Treasury on his department's shareholdings and other financial interests in Partnerships UK plc and to senior DfID officials on that department's shareholding and other financial interests in Actis Capital LLP.
It advises officials in other government departments on their shareholder responsibilities as follows:
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Entity Responsible Department Legal status ABRO Minstry of Defence Trading Fund BBC (certain aspects of the Charter Review) Department for Culture, Media and Sport Public corporation CDC Group plc Department for International Development Companies Act company (100 per cent of shares Government owned, shares not publicly traded) Channel 4 Department for Culture, Media and Sport Statutory corporation Defence Aviation Repair Agency (DARA) Ministry of Defence Trading fund Defence Science and Technology Laboratory (DSTL) Ministry of Defence Trading fund Forensic Science Service Home Office Trading fund Met Office Ministry of Defence Trading fund National Air Traffic Services Department for Transport Companies Act company (48.87 per cent of shares Government owned, shares not publicly traded) Northern Ireland Water Services Department for Regional Development, Northern Ireland Agency QinetiQ plc Ministry of Defence Companies Act company (58.1 per cent of shares Government owned, shares not publicly traded) Tote Department for Culture, Media and Sport Statutory corporation United Kingdom Hydrographic Office Ministry of Defence Trading fund