Disclosure of interest

Scottish Milk

It appears that Claymore banks with Bank of Scotland. One of the members of the group, Peter Mackay, is a director of Bank of Scotland's business banking division which deals with companies of Claymore's size. Until that point, Mr Mackay was not aware that Claymore was a client of the Bank of Scotland since his role as director does not involve him in the details of individual cases.

The Commission is satisfied that no conflict of interest arises in this case and that Mr Mackay's association with the Bank of Scotland will not influence his judgment. However Mr Mackay will take steps to ensure that no one at Bank of Scotland involves him in any business concerning Claymore or any one else in the milk industry.

30 March 2000