"They were a public company until the first of the year, they had a separate board, separate compensation committee and we had no authority to tell them what to do, just urged them what to do, " Lewis said.

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If the Treasury decides to take the first option, it will have some authority to determine the executive compensation structure of the firm.

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The order provides for compensation to be payable where planning permission granted by a local planning authority is subsequently revoked or modified or withdrawn.

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Transport Scotland said the Forth Estuary Transport Authority (Feta), fully funded by the Scottish government, was liable for any compensation claims received.

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Treasury now has the authority to take equity stakes in banks and other companies, and it can control executive compensation in the firms in which it takes a share.

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