Icelandic bank 'wasn't approved for Botanics'
THE Royal Botanic Garden in Edinburgh did not seek approval from ministers to open an account with an Icelandic bank that subsequently collapsed, it has been claimed.
More than 1 million was deposited with Kaupthing Singer and Friedlander, which fell victim to the global economic crisis last year.
It is understood that at the time the Botanic Garden opened its account, the bank was in British hands, and so no approval would have been required.
But Auditor General Robert Black told MSPs on a Holyrood committee yesterday that rules were broken. "With the benefit of hindsight of course they should have sought approval," he said.
The bank was A-rated so the money probably would have been approved, he added.
Professor Stephen Blackmore, Regius Keeper at the Royal Botanic Garden Edinburgh, said: "We are not surprised that the parliamentary audit committee has decided to simply note the facts of the report and no further action is required."
Email to a friend
Print this page- Family mourn death of Glasgow ‘fight’ schoolboy
- Rangers takeover: Duff & Phelps threaten legal action against BBC
- Today’s youth not fit to be employed, says car firm Arnold Clark
- Rangers administration: Fans fear Duff & Phelps claims could scare off Green
- Rangers takeover: triple penalty punishment enough, says Johnston
- Alistair Darling leads ‘No to independence’ fight over tea and biscuits
- Scottish independence: SNP flip-flops over Nato
- Scottish Independence: SNP ‘won’t be Yes campaign’s only voice’
- Scottish independence: Alex Salmond’s pledge to sign up 1m voters
- Today’s youth not fit to be employed, says car firm Arnold Clark
Looking for...
Featured advertisers
Jobs
Search for a job
Motors
Search for a car
Property
Search for a house
Weather for Edinburgh
Sunday 27 May 2012
Today
Sunny
Temperature: 10 C to 22 C
Wind Speed: 12 mph
Wind direction: North east
Tomorrow
Sunny
Temperature: 9 C to 21 C
Wind Speed: 12 mph
Wind direction: North east
