Girobank (Hansard, 17 May 1989)

§ 17. Mr. Sean Hughes
To ask the Chancellor of the Duchy of Lancaster what recent representations he has received on the future of Girobank.

§ Mr. Newton
Since the beginning of the year I have received a small number of representations from MPs and members of the public, raising a variety of questions about the future of Girobank.
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§ 34. Mr. Allan Roberts
To ask the Chancellor of the Duchy of Lancaster if he will make a further statement on the future of Girobank.

§ 61. Mr. Wareing
To ask the Chancellor of the Duchy of Lancaster if he will make a further statement on the future of Girobank.

§ 70. Mr. Fearn
To ask the Chancellor of the Duchy of Lancaster if he will make a further statement on the future of Girobank.

§ Mr. Newton
As I stated in answer to my hon. Friend the Member for Colne Valley (Mr. Riddick) on 20 April, the Post Office board accepted a conditional offer by the Alliance and Leicester Building Society for Girobank, and I endorsed the decision. Detailed negotiations between the two parties are continuing with a view to completion as soon as possible in the coming weeks.
The regulatory authorities will need to be satisfied and my consent will be needed before a sale can take place.