HC Deb 13 May 1992 vol 207 cc143-4W
Mr. Alex Carlile

To ask the President of the Board of Trade what assessment he has made of the adequacy of the investigations carried out into the takeover of House of Fraser by the Fayed brothers; and if he will make a statement.

Mr. Hamilton

Independent inspectors were appointed to investigate the affairs of House of Fraser Holdings plc. They were asked to look in particular at the circumstances surrounding the acquisition of shares in House of Fraser plc in 1984 and 1985.

The inspectors' report, which was published on 7 March 1990, reflects a carefully considered and thorough investigation.

Copies of the report were disclosed to other regulatory bodies to enable them to consider under their own powers or rules whether any disciplinary or regulatory action was appropriate. The responsibility for deciding whether to take action in such cases rests with the body concerned.