Conduct Of The Parliamentary Under Secretary Of State For Corporate Affairs
EDM number 1476 in 1992-93, proposed by Ken Purchase on 25/02/1993.
That this House notes with concern the decision by the President of the Board of Trade and Secretary of State for Trade and Industry to clear Airtours' bid for Owners Abroad despite the recommendation of the Director General of Fair Trading to refer the bid to the Monopolies and Mergers Commission; notes that pre-bid advice given in December to Airtours in the name of the Secretary of State was that Airtours' bid was unlikely to be referred to the Monopolies and Mergers Commission; notes there is no previous case where the Office of Fair Trading has recommended reference to the Monopolies and Mergers Commission in opposition to pre-bid advice; understands that in Airtours' case, pre-bid advice was given at the insistence of the Department of Trade and Industry and was not in accordance with the views of the Office of Fair Trading; notes that the Chairman of Airtours Mr David Crossland is a prominent constituent of the Minister for Corporate Affairs; understands the Minister was aware of this some time ago contrary to claims made by officials in his Department; notes that the Minister did not publicly declare his interest and was still involved in consideration of the bid as recently as 15th February before relinquishing responsibility to the Secretary of State; and therefore calls for a full inquiry to clarify the role of the Minister in this affair and whether he had any involvement in pre-bid guidance given to Airtours which served as such a convenient precedent for the Secretary of State's decision not to refer Airtours' bid to the Monopolies and Mergers Commission.
This motion has been signed by a total of 44 MPs, 1 of these signatures have been withdrawn.
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