Justice Committee

Press notice No. 5 of Session 2008-09

19 December 2008 / For Immediate Release

COMMITTEE REPORT ON CROWN DEPENDENCIES AND ICELANDIC BANK CRISIS

The Justice Committee today publishes a short report setting out the context of evidence it has taken on the performance of the Ministry of Justice in safeguarding the interests of the Crown Dependencies in the aftermath of the Icelandic banking sector crisis. These events affected Icelandic banks and their subsidiaries in, amongst other places, the UK, the Isle of Man and Guernsey, with potentially grave implications for the deposits of British citizens in those banks.

The Chairman of the Committee, Rt Hon Sir Alan Beith MP, today said "in the wake of the Icelandic banking collapse, questions arise over the way in which the interests of the Crown Dependencies are pursued by the UK Government, given the potential for the different departments of state involved to have divergent priorities. We therefore wanted those affected to be able to see the questions we asked, and the responses of the Minister, without delay. We are likely to return to this topic in 2009 as clarity over the issues we raised has not been forthcoming".

Notes:
1. The report is the First Report of the Committee, Session 2008-09, and is published as HC 67.

2. The Justice Committee took oral evidence, on 10 December 2008, from Lord Bach, Parliamentary Under-Secretary of State at the Ministry of Justice with responsibility for protecting the interests of the Crown Dependencies.

3. Committee membership is as follows: Rt Hon Sir Alan Beith MP (Chairman), Mr David Heath MP, Siân James MP, Daniel Kawczynski MP, Jessica Morden MP, Julie Morgan MP, Rt Hon Alun Michael MP, Robert Neill MP, Dr Nick Palmer MP, Linda Riordan MP, Virendra Sharma MP, Mr Andrew Turner MP, Mr Andrew Tyrie MP and Dr Alan Whitehead MP

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