HC Deb 16 July 1997 vol 298 cc228-9W
Mr. Redwood

To ask the President of the Board of Trade if the Minister for Trade and Competitiveness in Europe has any remaining interests in BP through the long-term performance plan described in Note 36 to the BP 1996 report and accounts. [8329]

Mrs. Beckett

Lord Simon is no longer an active member of BP's long-term performance plan. In accordance with the rules of the scheme, he gave up his active membership when he took over as Chairman in 1995. The plan continues to hold shares in trust for Lord Simon which relate to the period prior to his Chairmanship. He cannot influence these holdings in any way. These shares cannot be released under the terms of the plan before 7 May 1998 and 1 January 1999. These trigger dates relate to the required retention period in the rules for performance plans entered into before 1995.

Mr. Redwood

To ask the President of the Board of Trade on what date the Minister for Trade and Competitiveness in Europe complied with the procedures set down in "Questions of Procedure for Ministers" relating to(a) his shareholding and (b) other requirements relating to financial interests. [7551]

Mrs. Beckett

The Minster for Trade and Competitiveness in Europe put in hand arrangements to do so from the day of his appointment.

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