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Corgi: Finance

Volume 491: debated on Wednesday 22 April 2009

To ask the Minister of State, Department for Business, Enterprise and Regulatory Reform what steps he is taking to monitor the use of unspent public funds allocated to Corgi. (264042)

I have been asked to reply.

No such steps have been taken because the gas installer registration scheme operated by CORGI Gas Registration was financed through registration fees. However, Ministers have sought a view from the company about how, having now ceased this function, it intends to comply with its Memorandum of Association which requires any funds remaining after winding up costs to be transferred to the CORGI Trust or another charity with similar objectives to the company. As at 31 March 2008, the accounts of CORGI Gas Registration showed that surplus funds from unspent registration fees were held by the company as “retained surplus” in the sum of £3,456,740.