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| | Water Industry (Financial Assistance) Bill
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| | Clause 1, page 2, line 2, at end insert— |
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| | | (a) | In exercising the power under subsection (3) the Secretary of State may |
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| | | make an order containing a scheme for the provision of financial |
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| | | assistance to customers whom the Secretary of State considers are |
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| | | disproportionately adversely affected by the water charges with a view to |
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| | | reducing the impact of those water charges. |
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| | | (i) | specify the customers whose charges are covered by the scheme, |
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| | | (ii) | set out the basis of the adjustment of the charges, and |
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| | | (iii) | specify the duration of the adjustment. |
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| | | (c) | An order shall not be made under this section unless a draft of the |
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| | | statutory instrument containing it has been laid before, and approved by |
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| | | a resolution of, each House of Parliament.’. |
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| | Clause 2, page 3, line 3, at end insert— |
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| | | ‘(5A) | Financial assistance may only be given under subsection (1) if the financing of |
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| | | the infrastructure is being secured by a group company which has adopted the |
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| | Clause 2, page 3, line 3, at end insert— |
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| | | ‘(5A) | Financial assistance must not be given to any company which has a debt to equity |
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| | | ratio of more than 65%.’. |
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| | Clause 2, page 3, line 3, at end insert— |
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| | | ‘(5A) | The Secretary of State may suspend any financial assistance given under |
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| | | subsection (1) if either of the following conditions are met— |
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| | | (a) | the group of companies responsible for the infrastructure or the English |
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| | | undertaker by which the infrastructure is used or is intended to be used is |
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| | | deemed to be making excessive dividend payments, or |
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| | | (b) | if the group of companies responsible for the infrastructure or the English |
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| | | undertaker by which the infrastructure is used or is intended to be used is |
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| | | liable to pay interest to its shareholders at an interest rate which is greater |
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| | | than the interest rate which may be expected to be obtained through the |
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| | Clause 2, page 3, line 3, at end insert— |
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| | | ‘(5A) | The Secretary of State must not grant any financial assistance under subsection |
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| | | (1) if he is not satisfied that the company responsible for the infrastructure or the |
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| | | English undertaker by which the infrastructure is used or is intended to be used is |
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| | | a fit and proper person.’. |
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| | Clause 2, page 3, line 3, at end insert— |
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| | | ‘(5A) | The Secretary of State may only grant financial assistance under subsection (1) if |
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| | | he is satisfied that the company responsible for the infrastructure or the English |
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| | | undertaker by which the infrastructure is used or is intended to be used is meeting |
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| | | all of their tax obligations.’. |
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| | Clause 2, page 3, line 3, at end insert— |
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| | | ‘(5A) | The Secretary of State must not grant any financial assistance if the English |
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| | | undertaker which uses or intends to use the infrastructure operates any |
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| | | subsidiaries in tax havens as defined by the OECD tax haven criteria.’. |
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| | Clause 2, page 3, line 3, at end insert— |
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| | | ‘(5A) | The Secretary of State may only grant financial assistance after a business plan |
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| | | for the proposed infrastructure has been approved by Ofwat and the National |
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| | | (5B) | The business plan must demonstrate that the company carrying out the |
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| | | infrastructure has adequate capital resources to complete the infrastrucure |
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| | Clause 2, page 3, line 5, at end insert— |
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| | | ‘(6A) | No financial assistance may be given under subsection (6) unless the Secretary of |
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| | | State has laid a draft of a statutory instrument setting out the terms and conditions |
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| | | including the duration of such assistance before, and such draft has been approved |
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| | | by a resolution of, each House of Parliament.’. |
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| | Clause 2, page 3, line 5, at end insert— |
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| | | ‘(6B) | Before making regulations or an order under this section, the Secretary of State |
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| | | must lay a report before Parliament on her proposals to make apprenticeship |
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| | | programmes including at a Level 5 and Level 6 standard part of any major works, |
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| | | as well as an estimate of the number of jobs created and benefit to the local |
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| | | Water company social tariffs |
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| | | Negatived on division NC1 |
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| | To move the following Clause:— |
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| | | ‘(1) | The Secretary of State shall provide in regulations for the introduction of |
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| | | minimum standards for water company social tariffs, by 1 April 2013. |
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| | | (2) | Regulations made under subsection (1) above shall be made by statutory |
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| | | instrument and may not be made unless a draft has been laid before, and approved |
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| | | by resolution of, each House of Parliament. |
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| | | (3) | Ofwat shall publish 12 months after the passing of this Act and every year |
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| | | thereafter a league table of water companies reporting the performance of the |
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| | | provision of social tariffs and the number of households spending more than 3 per |
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| | | cent. and more than 5 per cent. of their disposable income on water bills.’. |
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| | | Bill read the third time, and passed. |
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