asked the Secretary of State for Trade what representations he has received from the Association of Scientific, Technical and Managerial Staffs (ASTMS) with regard to the provisions of the Policyholders Protection Bill.
The association has made various criticisms of the Bill and, in particular, has advocated stricter supervision as the best means of protecting policyholders. We are already making steady progress in this direction. For example, regulations requiring approval of proposed new controllers were made last week. The Policyholders Protection Bill is not an alternative to closer supervision but is complementary to it.