§ Mr. LoughtonTo ask the Chancellor of the Exchequer what is the timetable for the introduction of legislation to enable cash and fund-of-fund open-ended investment companies to be launched in the United Kingdom domestic market; and if authorisation of cash and fund-of-fund open-ended investment companies will be achieved in time for prospective ISA providers to promote such companies as an alternative to authorised unit trust schemes. [38854]
§ Mrs. LiddellI have announced my agreement in principle to the establishment of fund of fund and cash fund oeics and am currently considering the most appropriate way of introducing them. Whether they will be introduced in time for the launch of ISAs in the spring of 1999 depends on which method for introducing them is adopted.