Proceeding contribution from Fraser Kemp (Labour) in the House of Commons on Tuesday, 7 November 2006. It occurred during Adjournment debate on Farepak.

Farepak

I thank my hon. Friend for giving way. It is essentially on a technicality that such companies are not covered by the Financial Services Authority—because such payments are regarded as a deposit on goods—even though everybody knows that they are financial services organisations. That is how many of the customers and the collectors viewed Farepak. Does my hon. Friend regard that as a loophole that needs to be closed?

Secondary information

Type: Proceeding contribution
Reference: 451 c190WH
Session: 2005-06
Chamber / Committee: Westminster Hall
Subjects: Companies Closures Personal savings Farepak HBOS
Link: View this Proceeding contribution on www.publications.parliament.uk

Farepak

Secondary information

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