- Asked by: Tavish Scott, MSP for Shetland, Scottish Liberal Democrats
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Date lodged: Wednesday, 13 March 2002
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Current Status:
Answered by Ross Finnie on 27 March 2002
To ask the Scottish Executive when the next vessel decommissioning grant offers to fishing vessel owners will be made to use up any money outstanding from the #25 million sum set aside for the decommissioning scheme which may be left as a result of owners who were offered grants in December 2001 subsequently declining the offers.
Answer
Offers of grant are made to applicants on the reserve list as and when funding is freed up as a result of withdrawals from the scheme by those offered grant. Since initial offers of grant were made in December 2001, grant offers have been made to eight vessel owners on the reserve list.
- Asked by: Tavish Scott, MSP for Shetland, Scottish Liberal Democrats
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Date lodged: Tuesday, 12 February 2002
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Current Status:
Answered by Allan Wilson on 26 March 2002
To ask the Scottish Executive how many areas are currently proposed for designation as Special Protection Areas in each of 2002, 2003 and 2004.
Answer
The current list of Scottish Special Protection Areas (SPAs) is almost complete. I expect a further six sites, and one extension, to be classified between 2002 and 2004. Consideration is currently being given at UK level to a review of the UK SPA network, but no additional sites have been identified at this stage.
- Asked by: Tavish Scott, MSP for Shetland, Scottish Liberal Democrats
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Date lodged: Friday, 08 March 2002
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Current Status:
Answered by Wendy Alexander on 22 March 2002
To ask the Scottish Executive, with regard to its news release SE5330/2002 of 12 February 2002, whether Audit Scotland will report regularly on investments made using finance from the venture capital Investment Fund.
Answer
Full monitoring, reporting and evaluation arrangements will be a key element of our venture capital investment proposals. Details of this and other parts of the package are currently being put together by Scottish Enterprise, in collaboration with my Department and Highlands and Islands Enterprise.
- Asked by: Tavish Scott, MSP for Shetland, Scottish Liberal Democrats
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Date lodged: Friday, 08 March 2002
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Current Status:
Answered by Wendy Alexander on 22 March 2002
To ask the Scottish Executive, with regard to its news release SE5330/2002 of 12 February 2002, whether any rules will apply to the expected internal rate of return on any investment by a private sector fund manager in any one company using finance from the venture capital Investment Fund and to the return on any associated investment by the same fund manager in the same company using private finance.
Answer
I refer the member to the answer given to question S1W-23964.
- Asked by: Tavish Scott, MSP for Shetland, Scottish Liberal Democrats
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Date lodged: Friday, 08 March 2002
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Current Status:
Answered by Wendy Alexander on 22 March 2002
To ask the Scottish Executive, with regard to its news release SE5330/2002 of 12 February 2002, what (a) conditions will apply to and (b) objectives will be required of the private sector fund managers in respect of handling investments using finance from the venture capital Investment Fund.
Answer
I refer the member to the answer given to question S1W-23964.
- Asked by: Tavish Scott, MSP for Shetland, Scottish Liberal Democrats
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Date lodged: Friday, 08 March 2002
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Current Status:
Answered by Wendy Alexander on 22 March 2002
To ask the Scottish Executive how many venture capital firms are registered in Scotland.
Answer
Regulation of financial institutions is a reserved matter. We are informed by the Financial Services Authority that, at 30 November 2001, there were 12 firms in Scotland authorised by IMRO with a permitted activity in venture capital.
- Asked by: Tavish Scott, MSP for Shetland, Scottish Liberal Democrats
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Date lodged: Friday, 08 March 2002
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Current Status:
Answered by Wendy Alexander on 22 March 2002
To ask the Scottish Executive, with regard to its news release SE5330/2002 on 12 February 2002, what criteria will be used by the private sector fund managers when making decisions on investments using finance from the venture capital Investment Fund and what conditions will apply to any such investments in order to secure the Executive's equity participation in the selected companies.
Answer
I refer the member to the answer given to question S1W-23964.
- Asked by: Tavish Scott, MSP for Shetland, Scottish Liberal Democrats
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Date lodged: Friday, 08 March 2002
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Current Status:
Answered by Wendy Alexander on 22 March 2002
To ask the Scottish Executive, with regard to its news release SE5330/2002 of 12 February 2002, what criteria will be used to select the private sector fund managers for the venture capital Investment Fund and what the selection and appointment process will be.
Answer
The detailed arrangements for operation of the £20 million venture capital fund, announced on 12 February, are currently being worked up by Scottish Enterprise in collaboration with the Scottish Executive Enterprise and Lifelong Learning Department and Highlands and Islands Enterprise.These include the framework of a bidding process for private sector fund managers seeking to access the investment fund, and the conditions which will apply to fund managers in making subsequent company investment decisions. On the basis of these arrangements, it is intended that individual investment decisions will be a matter for the fund managers to determine. Further details on the operation of the new fund will be announced in due course.
- Asked by: Tavish Scott, MSP for Shetland, Scottish Liberal Democrats
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Date lodged: Friday, 08 March 2002
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Current Status:
Answered by Wendy Alexander on 22 March 2002
To ask the Scottish Executive, with regard to its news release SE5330/2002 of 12 February 2002, what role (a) Scottish Enterprise, (b) Highlands and Islands Enterprise and (c) local enterprise companies will play in the investment of finance from the venture capital Investment Fund.
Answer
We are working closely with Scottish Enterprise and Highlands and Islands Enterprise in developing the detailed arrangements for operation of the new venture capital investment fund. We will be looking to the enterprise network to manage the operational arrangements in due course. The networks will also play a key role in ensuring that the demand side constraints on access to venture capital funding in Scotland are addressed through a new programme of investor readiness support for Scottish companies.
- Asked by: Tavish Scott, MSP for Shetland, Scottish Liberal Democrats
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Date lodged: Friday, 08 March 2002
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Current Status:
Answered by Wendy Alexander on 22 March 2002
To ask the Scottish Executive, with regard to its news release SE5330/2002 of 12 February 2002, why finance from the venture capital Investment Fund will be co-invested in funds set up and managed by private sector fund managers.
Answer
The new £20 million venture capital investment fund will have a strong commercial orientation and is intended to strengthen the venture capital structure in Scotland. By co-investing in funds set up and managed by private sector fund managers, we will add to the number of players in the Scottish market while ensuring that investments in individual businesses are determined by those best placed to make such judgements.
