Funny I would have thought any bizjet driver with a bit of experience would be familiar with the term although, as HD says, it should be 'minimum safe approach speed'. Maybe the controller was undergoing OJT.
Chevron
Maybe in our exact Uk airspace but this was in Lubeck Germany and he just said " reduce to minimum speed "
Yes in this situation there was a blockage of some kind on the runway.
On the ILS you can reduce to Vref for the configuration and weight but I was not thinking of Biz jets but how a PPL will slow up if need be and what they do to gain seperation.
In my piston twin days with an aircraft ahead even S turns helped
As for fastest speeds I remember on numerous trips into Dublin being asked the fastest speed I could maintain on the approach in a Seneca piston twin! To fit in with jet traffic!
Leaving 10 k I could usually pick up the glideslop indications way out and adjusted the descent rate to that so it was a continual descent all the way in and hence a better speed to boot .
Pace