§ Mr. Gristasked the Secretary of State for Wales whether, pursuant to his announcement of an internal 312W investigation into the Welsh Development Agency's handling of its investment in the Parrot Corporation, he is yet in a position to give further details of that investigation.
§ Mr. Nicholas EdwardsThe investigation will be carried out by Mr. Douglas Baker, chairman of Touche Ross & Co. Mr. Baker's terms of reference are
to examine the Welsh Development Agency's handling of its investment in the Parrot Corporation and the Agency's supervision of its investment having special regard to the provisions of the WDA Act 1975, the investment guidelines laid down by the Welsh Office and the WDA's own investment manual; and to report to the Secretary of StateThe investigation will begin immediately and I will report further to the House in due course.