Question to the Department for Business, Energy and Industrial Strategy:

To ask Her Majesty's Government, further to the Written Answers by Lord Henley on 16 January (HL4540 and HL4541) confirming the classification of the Financial Reporting Council (FRC) as a public body, why the Memorandum of Understanding of July 2010 between Baroness Hogg, then chair of the FRC, and an official of the Department of Innovation and Skills, stated that the FRC was a private body.

As explained in the reply given to the noble Baroness on 16^th January 2018 to Question HL4540, the Memorandum of Understanding between the Department for Business, Innovation and Skills and the Financial Reporting Council (FRC) was signed before the Office of National Statistics’ confirmation in 2014 that the FRC would remain a public body and was based on the expectations at that time.