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Farepak Ruling |
| Following industry agreement, the new Christmas Pre-payments Authority has been set up to prevent a repeat of the Farepak collapse. The new body will be responsible for overseeing schemes to ring-fence the money of Christmas hamper savers.
Consumer Minister, Ian McCartney, told the National Conference of the Family Fund that the Family Fund's Deputy Chief Executive, Derek Walpole, will be appointed Chairman of the new Christmas Pre-payments Authority. Mr McCartney said: "Derek's involvement is a huge boost to the new industry watchdog and I know he will do a fantastic job. Derek will be joined by Suzy Hall of Unfairpak, who has accepted the position of Director of Consumer Affairs. Suzy's experience in campaigning for the victims of Farepak will stand her in great stead in her new role. The inaugural meeting of the new trade association will be held soon, signalling a fresh start for the hamper industry." The government gained industry agreement to set up the new Authority following the much publicised collapse of Farepak, which saw thousands of families lose their Christmas savings. Internet link: Press release
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