§ Mr. SimpsonTo ask the Secretary of State for Social Security (1) what access Motability has to the funds of Motability Finance Ltd; [27540]
(2) who is responsible for the financial reserves of Motability Finance Ltd. [27232]
§ Mr. BurtFinancial reserves are maintained by Motability Finance Ltd. as a normal business measure to safeguard the operation of its lease and hire purchase schemes. Those reserves are legally owned by MFL. Reserves held in excess of requirements have been transferred by way of gift into the Motability 10th Anniversary trust, which provides charitable support to the Motability scheme.