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Export Credits Guarantee Department

Volume 175: debated on Thursday 5 July 1990

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To ask the Secretary of State for Trade and Industry whether, following the conversion in 1991 of the insurance services group of the Export Credits Guarantee Department to a Government company, it will be necessary for the new company to establish at least one year's commercial accounts before its full privatisation.

To ask the Secretary of State for Trade and Industry what progress has been made in identifying an eventual buyer, or buyers, for the insurance services group of the Export Credits Guarantee Department.

[holding answer 3 July 1990]: Decisions have not yet been taken about the proposed method of sale of the insurance services group. No decisions have been taken about possible buyers.

To ask the Secretary of State for Trade and Industry what method will be used to recruit a chief executive for the privatised insurance group of the ECGD.

[holding answer 3 July 1990]: This will be a matter for the new owners of the privatised business.

To ask the Secretary of State for Trade and Industry what consultations he has had with the European Commission regarding the prospective bidders for the insurance services group of the Export Credits Guarantee Department and competition policy.

[holding answer 3 July 1990]: Decisions have not yet been taken about the proposed method of sale of the insurance services group and no decisions have been taken about possible purchasers. The Government will, however, take into account the views of the European Commission in reaching decisions.