HC Deb 25 June 1993 vol 227 cc291-2W
Mr. Gareth Wardell

To ask the President of the Board of Trade what has been the total sum to date that his Department has collected from the 15 per cent. audit fees in the assets of bankruptcy from BCCI; and if he will make a statement.

Mr. Neil Hamilton

BCCI is subject to compulsory liquidation proceedings and the total sum collected by the Department from the Secretary of State fee (previously known as the audit fee) since 1991 is £751,502. The Department cannot separately identify how much of this was collected at the 15 per cent. rate.

The Secretary of State fee scales were amended on 14 January 1992 which has the effect of reducing the fee chargeable on amounts over £20 million.

The total Secretary of State fee collected from all compulsory liquidations in 1992–93 was £4,870,885. Fees are used to defray the costs of the Insolvency Service.

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