§ Ms. MowlamTo ask the Chancellor of the Exchequer when the college of national regulatory authorities from the United Kingdom, Luxembourg, Switzerland and Spain was set up to monitor BCCI; why it was established at that date; when its existence was made known to the public; and how.
§ Mr. MaplesThe College of Supervisors first met in May 1988. The supervisors had for some time wished to 465W improve their capacity to monitor the BCC group as a whole, and this was facilitated by the appointment towards the end of 1987 of a single auditor to the group (Price Waterhouse). The existence of the college became known to the media during 1989. The function of the College of Supervisors was explained in answer to questions in both Houses in 1990 (House of Commons Official Report, 18 January 1990, col. 402, House of Lords Official Report 23 April Cols. 407–23), in connection with the convictions in Tampa, Florida.
§ Mr. MaddenTo ask the Chancellor of the Exchequer what legislative changes, or changes in other statutory procedures, he proposes in the light of the closure of the Bank of Credit and Commercial International.
§ Mr. Norman Lamont[holding answer on 22 July 1991]: I refer the hon. Member to the statement that I made on 19 July at cols. 715–29 and the statement made by my right hon. Friend the Prime Minister on 22 July at cols. 757–64.