Treasury dashes hopes of statutory status for PIA

From: The Independent - London | Date: May 14, 1994| Author: PETER RODGERS and PAUL DURMAN | Copyright information

THE TREASURY yesterday said it had no intention of making the Personal Investment Authority a statutory body reporting directly to the Government.

The statement, the first unequivocal indication of the Treasury's views, dashed the hopes of many potential members of the PIA who have delayed joining in the hope of forcing concessions in the way it is run.

The Treasury made the move as a direct result of an article in yesterday's Independent, in which Sir Gordon Downey, the PIA's fi...

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