EQUITABLE LIFE (no. 2)

As this motion is using historical data, we may not have the record of the original ordering, in which case signatories are listed alphabetically.

Amendment to this motion

There has been an amendment submitted to this motion.

View details of the amendment

Motion text

That this House notes the forensic study of the Equitable Life's accounts by accountants Burgess Hodgson, which revealed a ú1 billion black hole in the Society's finances at the beginning of the 1990's; also notes that the report demonstrates the Society's management consistently voted bonuses so that its liabilities were in excess of its assets; is concerned that the financial information available to Burgess Hodgson was also available to the regulators at the time; notes that many pensioners are currently suffering financial hardship because of the Society's mismanagement and an apparent failure of the regulatory system to protect policyholders; and calls on the Parliamentary Ombudsman to immediately investigate the complaints of maladministration relating to the period before 1999 that have been referred to her by many honourable Members on behalf of their constituents.

The first 6 Members who have signed to support the motion are the sponsors. The primary sponsor is generally the person who tabled the motion and has responsibility for it. The date shown is when the Member signed the motion.

Falmouth and Camborne

In addition to the sponsors, the following Members have signed to support the motion.

Barnes, Mr Harry

Labour

9 June 2003

North East Derbyshire

Ulster Unionist Party

Manchester, Withington

Altrincham and Sale West

Brake, Tom

Liberal Democrat

12 June 2003

Carshalton and Wallington

Mid Dorset and North Poole

Regent's Park and Kensington North

Burden, Richard

Labour

2 July 2003

Birmingham, Northfield

Burnett, Mr John

Liberal Democrat

30 June 2003

Torridge and West Devon

Ulster Unionist Party

Democratic Unionist Party

12 June 2003

East Londonderry

Campbell, Sir Menzies

Carmichael, Mr Alistair

Barnsley West and Penistone

Hammersmith and Fulham

Old Bexley and Sidcup

Kingston and Surbiton

Holborn and St. Pancras

Dodds, Mr Nigel

Democratic Unionist Party

1 July 2003

Belfast North

Donaldson, Mr Jeffrey M.

Ulster Unionist Party

Barnsley East and Mexborough

Scottish National Party

Cities of London and Westminster

Fisher, Mark

Labour

4 July 2003

Stoke-on-Trent Central

Foster, Michael Jabez

Birmingham, Sparkbrook and Small Heath

Oxford West and Abingdon

Ulster Unionist Party

North Southwark and Bermondsey

Humble, Mrs Joan

Labour

26 June 2003

Blackpool North and Fleetwood

Hampstead and Highgate

Birmingham, Selly Oak

Middlesbrough South and East Cleveland

Lawrence, Mrs Jackie

Labour

10 June 2003

Preseli Pembrokeshire

Lazarowicz, Mark

Labour

9 June 2003

Edinburgh North and Leith

Meirionnydd Nant Conwy

Lyons, Mr John

Labour

2 July 2003

Strathkelvin and Bearsden

Mahmood, Mr Khalid

Labour

14 July 2003

Birmingham, Perry Barr

McLoughlin, Mr Patrick

Kingston upon Hull North

Carmarthen East and Dinefwr

Gateshead East and Washington West

Robinson, Mr Geoffrey

Democratic Unionist Party

Motherwell and Wishaw

Scottish National Party

Shephard, Mrs Gillian

Morecambe and Lunesdale

Smith, Sir Robert

Liberal Democrat

12 June 2003

West Aberdeenshire and Kincardine

Smyth, The Rev Martin

Ulster Unionist Party

Edinburgh East and Musselburgh

Truro and St. Austell

Finchley and Golders Green

Wareing, Mr Robert N.

Labour

17 June 2003

Liverpool, West Derby

North East Milton Keynes

Scottish National Party

Sittingbourne and Sheppey

Younger-Ross, Richard

Liberal Democrat

19 June 2003

Teignbridge

These members had previously signed the motion, but have now withdrawn their support. The date shown is when the Member withdrew their signature from the motion.

South West Bedfordshire

Winterton, Sir Nicholas

Conservative

23 June 2003

Macclesfield

Amendments (1)

After a motion has been tabled, other Members can table amendments to it. Amendments to this motion are shown below.

EQUITABLE LIFE (no. 2) (Amendment 1)

leave out from "accountants" to end and add"Burgess Hodgson,which appears to show that the liabilities of Equitable Life,including an appropriate reserve for terminal bonus,exceeded the available assets for most of the 1990's:is concerned about press reports that several witnesses,including at least one former director of Equitable Life,have refused to co-operate with the Penrose inquiry:notes that the then Economic Secretary to the Treasury stated in a radio interview on the BBC programme Money box on 1 September 2001 that if certain of the Executive Directors did refuse to give evidence to the Penrose Inquiry she would not hesitate to put it on a statutory footing;calls upon the Government to find out which witnesses have refused to co-operate and to take appropriate action;calls upon the Government to ask Lord Penrose publicly to state a date before which his report will be completed;and calls on the Parliamentary Ombudsman immediately to investigate the complaints of maladministration relating to the period before 1999 that have been referred to her by many honourable Members on behalf of their constituents"

Mr Stephen O'Brien

Conservative, Eddisbury

signatures

EDM 1337A1: tabled on 18 June 2003

EDM (Early Day Motion) 1337: tabled on 04 June 2003

Amendment to this motion

Motion text

Signatures (190)

Amendments (1)