§ Mr. Ioan Evansasked the Secretary of State for Industry whether the final terms for settling the financial arrangements at the termination of the appointment of Mr. Ian MacGregor as chairman of British Steel have been agreed.
§ Mr. ButcherThe financial arrangements applying to Mr. MacGregor's term as chairman of the British Steel Corporation are set out in a document which was placed in the Library of the House on 15 April 1981. The document makes clear that the first of the two performance-related payments due to Lazard Freres of New York does not fall to be determined by the performance review committee until BSC's results for the year ending March 1984 are known, with the second payment being determined one year later.