Consultations
HMT: The Scottish Government could be given the power to issue its own bonds, Chief Secretary to the Treasury, Danny Alexander, told the Glasgow Chamber of Commerce recently.
A consultation (closes on 14 September 2012) on the proposal was launched recently. It will gather views & evidence on the potential benefits & disadvantages of bond issuance by Scottish ministers for both Scotland and the rest of the UK. It will consider value for money for Scottish & UK taxpayers; potential macroeconomic issues; and alternative sources of borrowing.
A consultation (closes on 14 September 2012) on the proposal was launched recently. It will gather views & evidence on the potential benefits & disadvantages of bond issuance by Scottish ministers for both Scotland and the rest of the UK. It will consider value for money for Scottish & UK taxpayers; potential macroeconomic issues; and alternative sources of borrowing.
The Government included a provision in the Scotland Act 2012 which enables it to amend the way in which Scottish ministers can borrow to include bond issuance from 2015-16. The Government committed to consult on whether these powers should be extended to permit bond issuance, as part of a total £2.2bn borrowing limit.
CC: The Competition Commission (CC) has recently published an issues statement as part of its market investigation into privately-funded healthcare services. The CC is required to report by 3 April 2014 - the inquiry sets out the various stages for the investigation.
Any interested party is invited to respond to the issues statement in writing by 20 July 2012. - the inquiry sets out the various stages for the investigation. .
Any interested party is invited to respond to the issues statement in writing by 20 July 2012. - the inquiry sets out the various stages for the investigation. .
DfT: Launching the InterCity East Coast franchise consultation (closes on 18 September 2012) last week, Rail Minister Theresa Villiers invited passengers, local councils &anyone with an interest in improved services on the East Coast Main Line to send in their views on what they want from the next franchise.
The DfT will produce a summary of the consultation responses alongside the Invitation to Tender, which will be published in January 2013. The winning bidder will be announced in August 2013 with the new franchise planned to start in December 2013..
LC: In a consultation (closing on 26 September 2012), the Law Commission and Scottish Law Commission are proposing a new law to make clear what businesses must tell insurers when they buy insurance. The current law states that before taking out insurance businesses must ‘disclose every material circumstance they know or ought to know’. ),
But what exactly counts as an organisation’s knowledge? Can a vast & complex international organisation reasonably be expected to know everything that is known to every employee? And how can it work out what an insurer would think was material?
The Law Commissions believe that the law should support the commercial aspirations of the insurer and the policyholder. The policyholder should make a fair presentation of the risk, but they can expect the insurer to be both knowledgeable and competent.
DCMS: Ofcom have launched a consultation (closes on 26 July 2012) on a draft code governing the Digital Economy Act’s mass notification system. Under the system, letters will be sent to account holders whose internet connections are identified as being used to unlawfully share films, music & other copyright material. The letters will explain what copyright is & give advice on protecting internet connections from unauthorised users.
DCMS: DCMS are inviting professionals from the communications & creative industries, TV & radio, publishers and other digital industries to comment on the discussion papers that will inform the 5 upcoming communications review seminars announced earlier this month.
BIS: The Government has published draft regulations (consultation closes on 26 September 2012) determining what companies must disclose in pay reports. These will fully replace existing rules and are designed to create a robust framework within which directors’ pay is set, agreed & implemented.
The Government has also published a summary of the responses received during the consultation launched in March 2012, Executive Pay: Shareholder Voting Rights.
Press release & links ~ Directors' Pay: Revised Remuneration Reporting Regulations ~ Executive Pay: Shareholder Voting Rights - responses
DfT: Passengers & the aviation industry are being given the chance to ‘cut red tape to make life easier for passengers & boost business’. Aviation Minister Theresa Villiers is putting the spotlight on around 90 aviation regulations that have been placed on the Red Tape Challenge website. The exercise gives people the opportunity to say whether they think that a regulation is well designed and provides vital protection or is badly designed, badly implemented or simply a bad idea (by 26 August 2012).
FSA: The Financial Services Authority is consulting (closes on 27 September 2012) on proposals which would ensure that investors can make fully informed choices if they wish to consolidate their investments in one place on a platform and understand exactly what they are paying for this service.)
The FSA is also seeking views on whether the ban on payments from product providers should be read across to the wider retail investment market, such as to life companies & Self-Invested Personal Pension (SIPP) operators
ScotGov: The Scottish Government has launched a consultation (closes on 28 September 2012) on a range of proposals which will include phasing out free carrier bags. The aim is to Safeguard Scotland’s Resources through efficient use of materials including cutting waste and encouraging positive environmental behaviour.
LC: In a new consultation, the Law Commission is seeking views on how the Electronic Communications Code is working for those who use it, and what can be done to make it more transparent and user-friendly.
The EC Code gives electronic communications network providers rights to install & maintain their equipment – such as masts, cables and conduits – on public & private land. It is vital to delivering broadband, mobile internet, cable TV, mobile phones and landlines to the whole of the UK.
FRC: The Financial Reporting Council (FRC), recently published a consultation document setting out the changes it proposes to its disciplinary Schemes (closes on 15 September 2012). The FRC considers that changes to the Schemes are desirable to enhance their independence and to promote their effective and efficient operation.
Press release & links
Press release & links
DH: Proposals to change responsibility for regulating fertility treatment and human tissue have been set out by Health Minister, Lord Howe, as he launched a consultation (closes on 28 September 2012) on the future of the Human Fertilisation and Embryology Authority (HFEA) and Human Tissue Authority (HTA).
DfE: Parents & businesses are being asked whether automatic online blocks should be introduced to protect children from adult & harmful websites, in a discussion paper published recently by ministers.
The call for evidence (closes end of August 2012) asks for views on the best way to shield children effectively from internet pornography and other adult & potentially harmful content - including websites promoting suicide, anorexia, gambling, self-harm & violence, as well as those exposing them to online sexual grooming or cyber-bullying.
The call for evidence (closes end of August 2012) asks for views on the best way to shield children effectively from internet pornography and other adult & potentially harmful content - including websites promoting suicide, anorexia, gambling, self-harm & violence, as well as those exposing them to online sexual grooming or cyber-bullying.
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