INSURANCE AND REINSURANCE (11978/07)
Letter from the Chairman to Kitty Ussher
MP, Economic Secretary, HM Treasury
Thank you for your Explanatory Memorandum 11978/07
which Sub-Committee A considered at their meeting on 9 October
2007. The Committee broadly support the proposed directive and
the Government's approach. This Directive will clearly have a
significant impact upon the insurance industry and the Sub-Committee
agreed that it is their duty to bring it to the wider attention
of the House and the general public. The Sub-Committee have consequently
decided to hold the item under scrutiny and undertake a short
inquiry on the Directive, to report early in the New Year.
The Clerk to the Sub-Committee will be in contact
with your officials to discuss the arrangements for the inquiry,
and the Sub-Committee hope that it will be possible for you or
your officials to give evidence to them in due course.
The Sub-Committee also noted that HM Treasury
plan to produce a Regulatory Impact Assessment later this year
and would be grateful if you could send this to them once it is
published.
10 October 2007.
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