House of Lords written statement – made at on 9 June 2009.
Lord Mandelson
Secretary of State, Department for Business, Enterprise & Regulatory Reform, The Secretary of State for Business, Innovation and Skills, Lord President of the Council (Privy Council Office)
Today we are announcing two changes with regards to the trade credit insurance top-up scheme.
Firstly, from today eligibility for the scheme will be backdated for those firms who have had their credit limits reduced since
Secondly, from today customers of HCC International Insurance Company plc will be eligible for policies under the Government scheme. Brokers and clients should contact HCC International Insurance Company plc in the first instance in order to apply for the scheme.
Further information can be found at the Business Link website at www.businesslink.gov.uk/creditinsurance.
The house of Lords is the upper chamber of the Houses of Parliament. It is filled with Lords (I.E. Lords, Dukes, Baron/esses, Earls, Marquis/esses, Viscounts, Count/esses, etc.) The Lords consider proposals from the EU or from the commons. They can then reject a bill, accept it, or make amendments. If a bill is rejected, the commons can send it back to the lords for re-discussion. The Lords cannot stop a bill for longer than one parliamentary session. If a bill is accepted, it is forwarded to the Queen, who will then sign it and make it law. If a bill is amended, the amended bill is sent back to the House of Commons for discussion.
The Lords are not elected; they are appointed. Lords can take a "whip", that is to say, they can choose a party to represent. Currently, most Peers are Conservative.
