§ Miss Maynard
asked the Prime Minister what rules govern the acceptance of paid consultancies by chairmen of nationalised industries.
§ The Prime Minister
The chairmen of nationalised industries are subject to the terms and conditions laid down in their letters of appointment. In general, acceptance of any outside appointment needs to be approved by the Secretary of State of the sponsor Department concerned, who must be satisfied that the chairman will continue to give sufficient time to his duties with the board, and that there is no conflict of interest. In the case of some nationalised industries, the Secretary of State is required by statute to satisfy himself from time to time that the chairman has no such financial or other interest as is likely to affect prejudicially the exercise and performance of his functions as a board member.