§ Mr. WigleyTo ask the Secretary of State for Trade and Industry if he has made any assessment of the implications for the United Kingdom life insurance industry if the current bid for the Pearl Group by Australian Mutual Provident is allowed to proceed.
§ Mr. Redwood[holding answer 24 November 1989]: On 13 November my right hon. Friend the Secretary of State announced his decision not to refer the proposed acquisition of Pearl Group plc by AMP (UK) PLC to the Monopolies and Mergers Commission for investigation. Under the merger control provision of the Fair Trading Act 1973 each merger is considered on its own merits. My right hon. Friend's decision in this case was taken after full consideration of all relevant issues and was in accordance with the advice of the Director General of Fair Trading.