HC Deb 18 May 1976 vol 911 c463W
Mr. Cryer

asked the Secretary of State for Industry if he is satisfied that the payment of £115,000 to two former directors of Alfred Herbert Limited is:' (a) in accordance with the guidelines to the NEB and (b) the result of a contractual liability absorbed by the NEB.

Mr. Les Huckfield

The Scheme of Arrangement for Alfred Herbert Ltd., issued in November last, envisaged that some compensation would be needed in consequence of certain senior management changes. It was a matter for the company to decide the appropriate sums in the light of its obligations. Under the terms of the NEB guidelines decisions of this sort are matters left to the NEB and its subsidiaries.

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