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Us Sarabaness-Oxley Act

Volume 401: debated on Friday 14 March 2003

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To ask the Secretary of State for Trade and Industry what study she has made of the effect of the US Sarbanes-Oxley Act 2002 on British companies operating in the USA; and what representations she has made to US authorities on this issue. [100755]

There has been dialogue with the major business representative organisations and with various individual companies on the impact of the US Act on British companies. We have made representations at Ministerial and official levels on all aspects of the Act to the US authorities, and I raised the issue with Senators, the Securities and Exchange Commission, the Public Company Accounting Oversight Board and the New York Stock Exchange

TOCManufacturerDate of orderNumber of vehiclesStatus of order
Anglia RailwaysAdtranzMarch 199824Completed
Anglia RailwaysBombardierJanuary 20028Completed
Arriva Trains NorthernSiemensFebruary 199848Completed
Arriva Trains NorthernSiemensMay 20008Completed
Arriva Trains NorthernSiemensNovember 20018Delivery to start from July 2003
C2cAdtranzJune 1997184Completed
C2cBombardierJune 2000112Completed
Central TrainsAdtranzMay 199826Completed
Central TrainsAdtranzMay 199829Completed
Central TrainsAdtranzAugust 199821Completed
Chiltern RailwayAdtranzAugust 199612Completed
Chiltern RailwayAdtranzApril 19988Completed
Chiltern RailwayAdtranzJune 199910Completed
Chiltern RailwayAdtranzAugust 20009Completed
Chiltern RailwayBombardierSeptember 20017Completed
Connex South EasternBombardierJuly 1997120Delivery begun
Connex South EasternBombardierJuly 199860Delivery begun
Connex South EasternBombardierJuly 199830Delivery begun
Connex South EasternBombardierJune 2002228Delivery to start From July 2003
Connex South EasternBombardierJuly 2002180Delivery to start from July 2004
First Great EasternSiemensMay 200184Delivery to start from April 2003
First Great WesternAlstomApril 199840Completed
First Great WesternAlstomJune 199930Delivery begun
First North WesternAlstomApril 199870Completed
Gatwick ExpressAlstomJanuary 199864Completed
Midland MainlineAdtranzOctober 199734Completed
Midland MainlineAdtranzFebruary 200110Completed
Midland MainlineBombardierJanuary 2002127Delivery to start from April 2004
ScotRailAdtranzMarch 199827Completed
ScotRailAdtranzApril 199818Completed
ScotRailAdtranzAugust 199927Completed
ScotRailAdtranzAugust 19996Completed
ScotRailAlstomMarch 1998120Completed
South CentralBombardierAugust 200184Delivery begun
South CentralBombardierAugust 2001156Delivery to begin April 2003
South CentralBombardierMarch 2002460Delivery to begin April 2004

during a visit to Washington and New York last month. We have also supported the European Commission in their representations to the US on the issue.