§ Mr. John Marshallasked the Chancellor of the Duchy of Lancaster if he will take steps to regulate the ability of pension funds to invest in the shares of their parent company; and if he will make a statement.
§ Mr. John Marshallasked the Chancellor of the Duchy of Lancaster if he will introduce legislation to require pension funds to disclose when they deal in the shares of their parent company; and if he will make a statement.
§ Mr. MaudeUnder the Occupational Pension Schemes (Disclosure of Information) Regulations 1986, for which my right hon. Friend the Secretary of State for Social Services is responsible, pension schemes are already required to disclose in their annual accounts particulars of any self-investment in excess of 5 per cent. of the total value of the net assets of the scheme. The regulations came into force on 1 November last year. In addition, pension schemes are subject to the normal Companies Act provisions which require the disclosure of an interest equal to or more than 5 per cent. of the relevant share capital of the company concerned.