§ Mr. McAllionTo ask the Secretary of State for Scotland what were the pension arrangements for employees of the Scottish Bus Group prior to the beginning of the current privatisation programme; and what steps he is taking to protect these pension arrangements in the post privatisation period.
§ Lord James Douglas-HamiltonThe Scottish Bus Group operates two pension schemes, the transport operatives pension scheme and the staff pension fund. The arrangements for pensions following privatisation are set out in the Scottish Bus Group disposal programme published on 6 February 1990, copies of which were made available to the House.
§ Mr. McAllionTo ask the Secretary of State for Scotland if bidders for Scottish Bus Group subsidiaries are required to include a minimum allocation of equity shares to employees in their bids.
§ Lord James Douglas-HamiltonNo. A 5 per cent. price preference is, however, available to bids involving the372W acquisition by the employees of a controlling interest in the companies being sold, provided that at least 25 per cent. of the ordinary shares will be owned by or on behalf of non-management employees.