§ Lord Bruce-Gardyneasked Her Majesty's Government:
1470WAWhat are the criteria determining the compensation due to Lazard Frères Inc. of New York for the release of Mr. Ian MacGregor to assume the chairmanship of the British Steel Corporation; who are currently members of the committee assessing performance against these criteria; what sums have so far been paid to Lazard Frères Inc.; and how these payments were calculated by reference to the criteria.
§ The Chancellor of the Duchy of Lancaster (Lord Cockfield)Information about the Agreed Criteria and about the payments made, or due to be made, by the Government to Lazard Frères of New York in respect of Mr. MacGregor's chairmanship of BSC was given in a Written Answer to the noble Lord, Lord Grimond, on 26th April 1984 (Official Report, cols. 250–251). As regards the membership of the Review Committee, there have been two changes since its formation. Mr. J. R. Steele was replaced in October 1981 by Mr. A. G. Manzie (until recently a Deputy Secretary in the Department of Trade and Industry, now Chief Executive of the Property Services Agency) and Mr. K. J. Sharp was replaced in July 1983 by Mr. J. A. Knox (an Under-Secretary in the Department of Trade and Industry). The other members are Mr. John Gardiner, the Chairman, Mr. Albert Frost and Lord Weir.