HC Deb 06 July 1992 vol 211 c88W
Mr. Kirkwood

To ask the Secretary of State for Social Security when he will introduce regulations to implement section 58B of the Social Security Act 1990; and what estimate he has made of the levels of payments to Maxwell pension schemes under that section.

Miss Widdecombe

I refer the hon. Member to the reply my right hon. Friend, the Secretary of State, gave to the hon. Member for Dartford (Mr. Dunn) on 30 June at column504, on the introduction of these regulations. We have no estimates of the level of payment that may be made in any particular case. This will depend on the amount of assets available to ordinary creditors.

Mr. Kirkwood

To ask the Secretary of State for Social Security what funds have been obtained by the Sir John Cuckney unit as part of the exercise to replenish Maxwell pension funds; and which organisations have been approved to make payments into the voluntary trust.

Miss Widdecombe

Sir John Cuckney is chairman of the Maxwell Pensioners Trust, which is being set up to enable voluntary contributions to be made by any individuals or organisations concerned about the plight of Maxwell pensioners and Sir John is holding discussions with a wide range of institutions about the contributions they may be willing to make. Sir John and his fellow trustees act as a board of advisers to the Maxwell pensions unit. The unit's role in securing the speedy return of assets to Maxwell pension funds is to provide all the assistance it can to liquidators, pension scheme trustees and others in carrying out this task. I warmly welcome the decision of NatWest to return some £ 25 million of Teva shares to Maxwell pension funds.

Mr. Fatchett

To ask the Secretary of State for Social Security, pursuant to his answer of 19 June,Official Report, column 704, what assistance the special unit established by his Department has provided to date to the liquidators, the trustees and others towards making contact with the authorities in Liechtenstein about Maxwell funds that could be held in that country.

Miss Widdecombe

The Maxwell pensions unit has not been asked to provide assistance in making contact with the authorities in Liechtenstein about Maxwell assets which may be held there; but remains ready to help where it can.