§ Mr. CoxTo ask the Secretary of State for Foreign and Commonwealth Affairs what discussions he has had with the Chief Minister of Gibraltar on his country's exclusion from the United Kingdom regulations on mortgage indemnity insurance captives; and if he will make a statement.
§ Mr. NelsonThe question of building societies being allowed to set up captive insurance companies in Gibraltar, to write mortgage indemnity business, was discussed when the Chancellor met the Chief Minister on 17 February.
They have since corresponded on the issue. My right hon. and Learned Friend will consider the matter further when the provisions of the amended Financial Services Commission Ordinance are fully in operation.