§ Mr. VazTo ask the President of the Board of Trade if there will be a consultation process in respect of investigations into remuneration of insolvency practitioners. [27294]
§ Mr. HoonI have been asked to reply.
Although policy on insolvency is the responsibility of the Secretary of State for Trade and Industry, I have been asked to reply to this question because my Department is responsible for providing the secretariat for a working party, chaired by Mr. Justice Ferris, which is considering the way in which the remuneration of office holders, including insolvency practitioners, should be determined. 101W The working party, which itself comprises members from a range of interests, has no plans to undertake a formal consultation exercise on this issue.
§ Mr. VazTo ask the President of the Board of Trade if she will make a statement on the progress of Mr. Justice Ferris's working party on remuneration of insolvency practitioners. [27293]
§ Mr. HoonI have been asked to reply.
Although policy on insolvency is the responsibility of the Secretary of State for Trade and Industry, I have been asked to reply to this question because my Department is responsible for providing the secretariat for Mr. Justice Ferris's working party. The working party has met on three occasions and a further meeting is scheduled for 16 February, to consider the way in which the remuneration of office holders, including insolvency practitioners, should be determined. It intends to report to the Vice-Chancellor no later than the autumn of 1998.