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Press Release

2 February 2013

LibVan Anticipates Positive PAC Decision Liberal Vannin MHKs, Peter Karran and Kate Beecroft, wrote to the Public Accounts Committee on 8th January requesting that they investigate the investment into Pinewood Shepperton plc and the appointment of Pinewood Film Advisors LLP as investment manager for the Media Development Fund. The Committee will be making their decision on Wednesday, 6th February.

The Public Accounts Committee prioritises referrals by taking into account the following:     

the significance or potential significance of the matter for the reputation of Tynwald or the Island more generally; the credibility of any allegations the Committee has been asked to investigate; quantum; the sum of public money involved; levels of public concern; and whether the issue could be referred to a Policy Review Committee or another existing Standing or Select Committee or the Branches.

Peter Karran and Kate Beecroft believe that the referral satisfies all of the criteria and the Public Accounts Committee have no grounds for refusing this request. LibVan are therefore confident that the decision on 6th February will be favourable.

Once accepted by the Committee, standing orders require that no further questions are to be asked by MHKs in the House of Keys or Tynwald. LibVan believe that this is a small price to pay if it means that these matters will be fully investigated by the Public Accounts Committee.

“ENDS” Roy Redmayne Chairman Liberal Vannin Party T: 824361 M: 309694 royredmayne@manx.net

Note to Editors: Letter of 8th January to the PAC attached

Word Count: 218



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