Lord Myners – 2016 Parliamentary Question to the Department for Business, Innovation and Skills

The below Parliamentary question was asked by Lord Myners on 2016-05-09.

To ask Her Majesty’s Government whether they will investigate the case for sales of gift vouchers by retailers to be backed by cash collateral held in independent escrow.

Baroness Neville-Rolfe

Her Majesty’s Government has asked the Law Commission to consider the treatment of gift vouchers and pre-payments in the event of retailer insolvency. The Government will consider carefully any recommendations that may emerge on this question once the Law Commission’s report is published in the summer of 2016.