Corporate report

Triennial Review Report: Nuclear Liabilities Financing Assurance Board (NLFAB)

Reviewing the function, form and governance of NLFAB.

This was published under the 2010 to 2015 Conservative and Liberal Democrat coalition government


Triennial Review Report: Nuclear Liabilities Financing Assurance Board (NLFAB)

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In April 2011 Cabinet Office announced that all non-departmental public bodies (NDPBs) would have to undergo a substantive review at least once every three years, under the Public Bodies Reform Act.

The triennial review of the NLFAB started on 10 October 2013 and was completed on 27 March 2014. The review examined whether there is evidence to support the continued operation and form of the NLFAB. It concluded that NLFAB’s functions remain relevant and it should continue as an advisory body. The review then examined the control and governance arrangements of the NLFAB and found that the body was complying with the recognized principles of good corporate governance. However, it made some recommendations to improve certain aspects of the governance arrangements, such as transparency of NLFAB’s activities.

This was the first review of the NLFAB.

Read the accompanying Written Ministerial Statement: Outcome of the NLFAB triennial review.

Published 31 March 2014