§ Mr. Alan Howarth
To ask the Chancellor of the Exchequer what arrangements he is making to ensure that a wide range of charities, investment management companies and other interested parties are invited to make representations to the Treasury in connection with the current review of the Trustee Investments Act 1961; and if he will list the names of organisations which have been invited individually to submit views.
§ Mr. Nelson
A number of changes to the Trustee Investments Act 1961 are currently being drafted. These are largely technical in nature and are either necessary to comply with European obligations or result from amendments to other statutes. The Treasury has undertaken a limited consultation on these changes, seeking the views of other Departments (including the Charity Commission), the Law Society, the Unit Trust Association and a small number of law firms who have expressed a desire for technical changes.
The Government are also considering the case for wider reform. If it is decided that there are grounds for such reform, we will ensure that bodies of the type mentioned are fully consulted.