HC Deb 28 July 1997 vol 299 cc59-60W
Mr. Redwood

To ask the President of the Board of Trade what action was taken to prevent a conflict of interest on the Minister for Trade and Competitiveness in Europe's non-BP shares before he placed them in a blind trust, in respect of decisions on(a) whether to subscribe for rights shares, (b) whether to take cash or share dividend, (c) whether to accept bids and demerger proposals and (d) how to receive windfall distributions. [10930]

Mrs. Beckett

From the day of his appointment, the Minister for Trade and Competitiveness in Europe treated all his investments as if they were already located within a blind trust by refraining from giving any instructions to his bank as to how the portfolio should be handled. Discretionary decisions of this type, if any, were taken by the portfolio manager without reference to the Minister.

Mr. Redwood

To ask the President of the Board of Trade what factors led to the delay in putting the non-BP shares of the Minister for Trade and Competitiveness in Europe into a blind trust. [10968]

Mrs. Beckett

From the day of his appointment, the Minister for Trade and Competitiveness in Europe treated all his investments as if they were already located within a blind trust by refraining from giving any instructions to his bank as to how the portfolio should be handled. Discretionary decisions of this type, if any, were taken by the portfolio manager without reference to the Minister. The formal arrangements for setting up the trust are now complete and involved a necessary period of preparatory work by the Minister's bank.

Mr. Redwood

To ask the President of the Board of Trade where the three meetings took place between the Minister for Trade and Competitiveness in Europe and BP directors. [10924]

Mrs. Beckett

At BP's offices at Britannic house and in a restaurant.