Privy Council minutes from Tuesday have now been published regarding Peter Mandelson.
“An Order striking out The Lord Mandelson from the List of Members of His Majesty’s Most Honourable Privy Council.”
The Order in Council stripping Mandelson of his peerage has also been published:

Mandelson is no longer the Right Honourable…
The government is briefing that legislation to strip Mandelson of his peerage won’t come until after the King’s Speech in May. No10 says this is because it is putting together wider legislation to remove peers in general. A manufactured delay…
In Henry Mance’s piece today for the FT, lunching with Nigel Farage:
“Splendido!” Farage says, when the drinks arrive; I suppose it’s a step to European reconciliation. We clink glasses, and he lights the first of two back-to-back Benson & Hedges. A few minutes later, we’re back downstairs. “Are you drinking? Good.” He orders a glass of Sauvignon blanc for each of us — not a bottle, “because it’s Lent” — followed by a bottle of claret, to have with our meal. They say Farage drinks less than he used to. They say a lot of things.”