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| High Speed Rail (Preparation) Bill
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| [SEVENTH AND EIGHTH SITTINGS]
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| Clause 2, page 2, line 3, at end insert— |
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| | ‘(1A) | The Secretary of State shall make a statement to the House of Commons should |
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| | agreed yearly budgets be exceeded, or should they be expected to be exceeded.’. |
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| Clause 2, page 2, line 5, after ‘each’, insert ‘six months in each’. |
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| Clause 2, page 2, line 5, after ‘each’, insert ‘quarter of the’. |
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| Clause 2, page 2, line 7, after ‘during’, insert ‘each six months in each’. |
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| Clause 2, page 2, line 7, after ‘the’, insert ‘quarter of the’. |
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| Clause 2, page 2, line 7, leave out ‘the’. |
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| Clause 2, page 2, line 8, at end insert ‘(with capital and resource expenditure |
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| specified separately in respect of each head of expenditure referred to in section 1(4)(a) |
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| Clause 2, page 2, line 9, leave out ‘year’ and insert ‘quarter, and that financial year |
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| Clause 2, page 2, line 10, leave out ‘in that year’ |
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| Clause 2, page 2, line 11, after ‘1’, insert ‘in that quarter, and in that financial year |
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| Clause 2, page 2, line 11, at end add— |
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| | ‘(d) | all expenditure in all Departments across Government on matters related |
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| | to the high speed railway transport network.’. |
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| Clause 2, page 2, line 11, at end insert— |
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| | ‘(d) | any tax incurred through expenditure under section 1, and any tax that has |
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| | been reclaimed from the Treasury in the relevant reporting period.’. |
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| Clause 2, page 2, line 11, at end insert— |
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| | ‘(d) | the administration costs of the project’s delivery body’. |
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| Clause 2, page 2, line 11, at end add— |
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| | ‘(d) | jobs and apprenticeships directly created in the relevant reporting |
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| Clause 2, page 2, line 12, after ‘means—’, insert— |
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| | ‘(a) | in relation to the period from 1 April 2010 to the day on which this Act |
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| | is passed, each successive year from 1 April 2010 to the day on which this |
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| | Act is passed; thereafter.’. |
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| Clause 2, page 2, line 18, leave out ‘year’ and insert ‘quarter’. |
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| Clause 2, page 2, line 19, leave out subsection (5). |
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| Clause 2, page 2, line 19, leave out ‘year’ and insert ‘quarter’. |
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| | Clause, as amended, Agreed to. |
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| | Definition of compensation |
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| To move the following Clause:— |
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| | ‘The Secretary of State shall as soon as reasonably practicable after the day this |
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| | Act is passed establish an independent and objective process to determine what |
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| | shall be deemed a generous scheme for providing the compensation referred to in |
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| | section 1(4)(c), and shall direct that that process itself take place expeditiously.’. |
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| To move the following Schedule:— |
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| | ‘Property purchase bond scheme |
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| | 1 | The Secretary of State or the Promoter of the High Speed Rail Scheme (the |
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| | Promoter) will establish a market-based property purchase bond scheme (“the |
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| | 2 | Bonds issued under the Bond Scheme are referred to as “Bonds”. |
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| | 3 | All owners of blighted properties will be eligible for a Bond which will transfer |
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| | with a property affected by any High Speed Rail proposals or project whenever |
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| | 4 | Eligibility for the Bond will be determined by whether a property suffers or |
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| | might suffer loss in value due to the High Speed Rail proposals or project. |
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| | 5 | The Bond will underpin the full market value of the property designated as |
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| | blighted so that the property can be the subject of a mortgage or charge and be |
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| | disposed of in the same fashion as if it had not been blighted. |
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| | 6 | The Bond will be redeemed by the Promoter only after all relevant permissions |
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| | and consents for the high speed railway have been granted and if no purchaser |
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| | is forthcoming at the unblighted price (making the Promoter the purchaser of |
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| | 7 | Nothing in the Bond Scheme will prevent any other types of compensation |
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| | being added to the compensation scheme for High Speed Rail blight as a |
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| | Bill, as amended, to be reported. |
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