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Patten, Rt Hon John

Pattie, Rt Hon Sir Geoffrey

Peacock, Mrs Elizabeth

Porter, Barry (Wirral S)

Porter, David (Waveney)

Portillo, Michael

Powell, William (Corby)

Price, Sir David

Raison, Rt Hon Sir Timothy

Rathbone, Tim

Rhodes James, Robert

Riddick, Graham

Rifkind, Rt Hon Malcolm

Roberts, Sir Wyn (Conwy)

Rost, Peter

Rowe, Andrew

Ryder, Rt Hon Richard

Sackville, Hon Tom

Sayeed, Jonathan

Shaw, David (Dover)

Shaw, Sir Giles (Pudsey)

Shaw, Sir Michael (Scarb')

Shelton, Sir William

Shephard, Mrs G. (Norfolk SW)

Shepherd, Colin (Hereford)

Shepherd, Richard (Aldridge)

Shersby, Michael

Sims, Roger

Smith, Sir Dudley (Warwick)

Smith, Tim (Beaconsfield)

Soames, Hon Nicholas

Speed, Keith

Spicer, Michael (S Worcs)

Stanbrook, Ivor

Steen, Anthony

Stern, Michael

Stevens, Lewis

Stewart, Allan (Eastwood)

Stewart, Andy (Sherwood)

Stewart, Rt Hon Ian (Herts N)

Sumberg, David

Summerson, Hugo

Tapsell, Sir Peter

Taylor, Ian (Esher)

Taylor, John M (Solihull)

Taylor, Teddy (S'end E)

Thompson, D. (Calder Valley)

Thurnham, Peter

Tracey, Richard

Tredinnick, David

Trippier, David

Twinn, Dr Ian

Vaughan, Sir Gerard

Viggers, Peter

Walden, George

Walker, Bill (T'side North)

Walters, Sir Dennis

Ward, John

Watts, John

Wells, Bowen

Wheeler, Sir John

Whitney, Ray

Widdecombe, Ann

Wiggin, Jerry

Wilkinson, John

Wilshire, David

Winterton, Mrs Ann

Winterton, Nicholas

Wolfson, Mark

Wood, Timothy

Woodcock, Dr. Mike

Yeo, Tim

Young, Sir George (Acton)

Younger, Rt Hon George

Tellers for the Noes :

Mr. Nicholas Baker and

Mr. Neil Hamilton.

Question accordingly negatived.

Clause 6

Target investment limit for Governmentshareholding

Dr. Bray : I beg to move amendment No. 2, in page 4, line 16, at end insert :--

(4A) The Secretary of State shall not set a target investment limit of less than 50.01 per cent. of the total voting rights until a period of at least five years has elapsed from the appointed day.'. The amendment seeks to provide, by means of a golden share, a mechanism by which the assurances and words of comfort that the Minister offered could be enforced. He gave a long list of considerations that might--or might not--be embodied in the conditions for sale of BTG. Those related to matters raised on Second Reading, in Committee or earlier this afternoon, and covered most aspects of the types of safeguard that have been suggested. Nevertheless, the Minister could not give a firm assurance that he would provide a legislative guarantee so that the Government could ensure that such conditions were observed in the successor company.

The golden share is one mechanism by which such conditions could be secured. It was advocated by some Conservative Members, and we shall press it in the amendment. The Minister's long list of conditions for sale was rather like the prayer of St. Augustine--"Lord, make me good, but not yet." We seek the Minister's salvation, so we shall press the amendment to a vote.

We welcome yesterday's discussions between representatives of the Committee of Vice-Chancellors and

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Principals and the Minister, but the use that the hon. Gentleman made of the meeting was a little unfair. The representatives of the CVCP were working within the framework of Government policy and the provisions of the Bill. They were trying to secure a settlement by making within that framework a constructive proposal for securing important objectives with regard to BTG's future role in relation to technology transfer and the universities' and research councils' own research. The discussion related not only to the small but significant shareholding that the universities sought, but to the whole nature of the consortium which they advocated and which the Minister adumbrated as something that might emerge from the forthcoming discussions and consideration. We hope that those discussions will be successful, but we believe that a long-stop is needed. An amendment providing for a golden share would be a firm way of securing that end, at least in the important early years. I have no wish to delay our proceedings, so I shall be happy to proceed to a Division on the amendment at the convenience of the House.

Question put, That the amendment be made :--

The House divided : Ayes 194, Noes 253.

Division No. 112] [6.25 pm

AYES

Abbott, Ms Diane

Adams, Mrs Irene (Paisley, N.)

Alton, David

Anderson, Donald

Archer, Rt Hon Peter

Armstrong, Hilary

Ashdown, Rt Hon Paddy

Ashley, Rt Hon Jack

Ashton, Joe

Banks, Tony (Newham NW)

Barnes, Harry (Derbyshire NE)

Barron, Kevin

Battle, John

Beckett, Margaret

Beggs, Roy

Beith, A. J.

Benn, Rt Hon Tony

Benton, Joseph

Bidwell, Sydney

Blair, Tony

Boateng, Paul

Boyes, Roland

Bradley, Keith

Bray, Dr Jeremy

Brown, Nicholas (Newcastle E)

Brown, Ron (Edinburgh Leith)

Bruce, Malcolm (Gordon)

Buckley, George J.

Caborn, Richard

Callaghan, Jim

Campbell, Menzies (Fife NE)

Campbell, Ron (Blyth Valley)

Canavan, Dennis

Carlile, Alex (Mont'g)

Clark, Dr David (S Shields)

Clarke, Tom (Monklands W)

Clelland, David

Cohen, Harry

Cook, Frank (Stockton N)

Cook, Robin (Livingston)

Corbett, Robin

Corbyn, Jeremy

Cousins, Jim

Crowther, Stan

Cryer, Bob

Cummings, John

Cunliffe, Lawrence

Dalyell, Tam

Davies, Rt Hon Denzil (Llanelli)

Davies, Ron (Caerphilly)

Davis, Terry (B'ham Hodge H'l)

Dixon, Don

Dunnachie, Jimmy

Dunwoody, Hon Mrs Gwyneth

Eadie, Alexander

Evans, John (St Helens N)

Fatchett, Derek

Fearn, Ronald

Fisher, Mark

Flannery, Martin

Flynn, Paul

Foot, Rt Hon Michael

Foster, Derek

Fraser, John

Fyfe, Maria

Galbraith, Sam

Galloway, George

Garrett, John (Norwich South)

Garrett, Ted (Wallsend)

George, Bruce

Godman, Dr Norman A.

Golding, Mrs Llin

Gordon, Mildred

Graham, Thomas

Grant, Bernie (Tottenham)

Griffiths, Nigel (Edinburgh S)

Griffiths, Win (Bridgend)

Grocott, Bruce

Hain, Peter

Hardy, Peter

Harman, Ms Harriet

Haynes, Frank

Healey, Rt Hon Denis

Henderson, Doug

Hinchliffe, David

Hoey, Ms Kate (Vauxhall)

Hogg, N. (C'nauld & Kilsyth)

Home Robertson, John

Hood, Jimmy

Howarth, George (Knowsley N)

Howells, Geraint

Howells, Dr. Kim (Pontypridd)

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