§ Mr. Chris SmithTo ask the Chancellor of the Exchequer what indemnities have been made available by the Bank of England to companies, individuals or auditors in connection with the collapse of the Bank of Credit and Commerce International.
§ Mr. NelsonIt is standard practice, when the Bank of England commissions a section 41 report, for the letter appointing the reporting accountants to include an indemnity against any cost, liabilities and expenses arising out of their appointment, investigation or report. Such an indemnity was included in the letter sent to Price Waterhouse commissioning the section 41 into BCCI.