To ask Her Majesty's Government how they intend to support clients of the Presbyterian Mutual Society following the collapse of the fund. [HL1911]

The Presbyterian Mutual Society (PMS) is an industrial and provident society registered under Northern Ireland law. As such, it is not subject to regulation by the Financial Services Authority (FSA) under the Financial Services and Markets Act (FSMA) 2000. Consequently the society and its members do not contribute to, and are not protected by, the Financial Services Compensation Scheme (FSCS).

Earlier this year, the administrator appointed for PMS balloted members to seek approval for plans to run down the business in an orderly fashion. The vote closed on 30 January 2009 and the administrator's statement of 6 February 2009 shows that members voted unanimously to accept the proposals. A further report from the administrator is due by the end of May 2009.