S.C.E.
Amendment Paper as at
Tuesday 8th February 2000
STANDING COMMITTEE E
New Amendments handed in are marked thus *
TRANSPORT BILL
NOTE
The Amendments have been arranged in accordance with the Order of the Committee [18th January], as follows:—
Clauses 1 to 30; Schedules 1 and 2; Clauses 31 to 33; Schedule 3; Clauses 34 to 36; Schedule 4; Clause 37; Schedule 5; Clauses 38 to 61; Schedule 6; Clause 62; Schedule 7; Clauses 63 to 83; Schedule 8; Clauses 84 to 88; Schedule 9; Clauses 89 to 91; new Clauses relating to Part I; Clauses 92 to 137; Schedule 10; Clause 138; new Clauses relating to Part II; Clauses 139 to 167; Schedule 11; Clauses 168 to 175; Schedule 12; new Clauses relating to Part III; Clauses 176 to 179; Schedule 13; Clauses 180 to 186; Schedule 14; Clauses 187 to 190; Schedule 15; Clause 191; Schedule 16; Clause 192; Schedule 17; Clause 193; Schedule 18; Clause 194; Schedule 19; Clause 195; Schedule 20; Clauses 196 to 202; Schedule 21; Clauses 203 and 204; Schedule 22; Clauses 205 to 213; Schedule 23; Clauses 214 to 221; Schedule 24; Clause 222; Schedule 25; Clause 223; new Clauses relating to Part IV; Clauses 224 to 231; other new Clauses; new Schedules; Schedule 26.
Clause No. 48 (Government investment in securities).
311
Amendment (No. 311) proposed, in page 31, line 41, after the word 'without', to insert the words 'the approval of a resolution of both Houses of Parliament and'.—(Mr Gerald Howarth).
Question proposed, That the Amendment be made.
Mr Don Foster
Mr Michael Moore
Mr Bernard Jenkin
Mr Robert Syms
Mr Peter Atkinson
99
Clause 49, page 32, line 3, leave out paragraph (b).
Mr Don Foster
Mr Michael Moore
100
Clause 49, page 32, line 4, leave out paragraph (c).
Mr Bernard Jenkin
Mr Robert Syms
Mr Peter Atkinson
312
Clause 49, page 32, line 7, after 'section', insert 'so soon as the draft articles of association of such proposed transferee have been approved and passed by resolution of both Houses of Parliament'.
Mr Nick Raynsford
363
Clause 49, page 32, line 7, at end insert—
'(2A) The Secretary of State must ensure that the Crown does not dispose of any of the shares it holds in the designated company unless—
(a) the Crown holds at least 49 per cent of the company's issued ordinary share capital immediately before the disposal, and
(b) the Crown will continue to hold at least 49 per cent of that share capital immediately after the disposal.
(2B) The Secretary of State must ensure that at any given time the Crown holds at least 25 per cent of the designated company's issued ordinary share capital.'.
Mr Bernard Jenkin
Mr Robert Syms
Mr Peter Atkinson
319
Clause 49, page 32, line 9, leave out 'any' and insert 'the'.
Mr Bernard Jenkin
Mr Robert Syms
Mr Peter Atkinson
320
Clause 49, page 32, line 10, at end insert 'referred to in section 47(2A).'.
Mr Bernard Jenkin
Mr Robert Syms
Mr Peter Atkinson
393
Clause 49, page 32, line 10, at end insert ', which shall specify'—
(a) the extent to which Table A of the Companies (Table A to F) Regulations 1985 shall be adopted;
(b) the authorised share capital of the company;
(c) the rights attached to shares in the company;
(d) consents required for and conditions for the issue of shares;
(e) the rights attached to the special share mentioned in subsection (4);
(f) limitations on share holdings;
(g) restrictions on dealings in shares in the company;
(h) the conduct of meetings of the company;
(i) the appointment and powers of various classes of directors; and
(j) such other matters as may be relevant to any company's articles of association and relevant to the special circumstances of this Act.
Mr Bernard Jenkin
Mr Robert Syms
Mr Peter Atkinson
321
Clause 49, page 32, line 11, leave out 'A' and insert 'The'.
Mr Bernard Jenkin
Mr Robert Syms
Mr Peter Atkinson
313
Clause 49, page 32, line 11, leave out from second 'share' to end of line 13 and insert 'of a class which by virtue of the rights attaching to it under the articles of association of the company concerned can be held only by the Crown (within the meaning given it in this Chapter), of which there may be only one share in issue from time to time and which gives the holder of that share—
(a) the right to prevent any alteration to those articles of association;
(b) the right to prevent any winding up of the company concerned;
(c) the right to prevent a transfer of other securities in the transferee on grounds of national security;
(d) the right to prevent certain other events specified in the articles of association; and
(e) the right to be converted, wholly or in part, into shares in the ordinary share capital of the transferee, such conversion to be conditional upon the making of an offer to the public of such ordinary shares and the acceptance of an application for admission to the Official List (within the meaning of Part IV of the Financial Services Act 1986).'.
Mr Bernard Jenkin
Mr Robert Syms
Mr Peter Atkinson
9
Clause 49, page 32, line 16, leave out from 'shareholder' to end of line 18.
Mr Bernard Jenkin
Mr Robert Syms
Mr Peter Atkinson
314
Clause 49, page 32, line 18, at end insert—
'(5A) The rights accorded to the Crown by the special share under this section shall not be subject to any limitation that may be imposed through the European Communities Act 1972 as amended.'.
Mr Bernard Jenkin
Mr Robert Syms
Mr Peter Atkinson
322
Clause 49, page 32, line 19, leave out subsection (6).
Mr Nick Raynsford
364
Clause 49, page 32, line 22, after 'subsection' insert '(2A), (2B) or'.
Mr Bernard Jenkin
Mr Robert Syms
Mr Peter Atkinson
10
Clause 49, page 32, line 24, leave out subsection (7).
Mr Nick Raynsford
365
Clause 49, page 32, line 24, after 'subsection' insert '(2A), (2B) or'.
Mr Bernard Jenkin
Mr Robert Syms
Mr Peter Atkinson
394
Clause 49, page 32, line 24, at end insert—
'(6A) This section shall not come into force until the Secretary of State has entered into a Strategic Partnership Agreement with a strategic partner who shall take initially a 46 per cent. holding in the designated company, such agreement to specify—
(a) definitions and Interpretation;
(d) business of the company;
(g) management appointments;
(h) partnership directors;
(i) proceedings of directors;
(k) investigation of the affairs of the company;
(m) completion and maintenance of projects;
(n) access to information and accounts;
(q) provision of financing form the NATS group;
(r) restrictions on dealing with shares;
(u) public offer procedure;
(v) transfer of shares on default;
(w) administration order put option;
(y) completion of share transfers;
(z) consent to transfer for the purposes of the articles and Article 11 agreement;
(aa) effect of deed of adherence;
(cc) shareholder undertakings;
(dd) protective covenants;
(ee) rights of third parties;
(ii) parental undertakings;
(nn) remedies and waivers;
(rr) choice of governing law;
Mr Don Foster
Mr Michael Moore
Mr Bernard Jenkin
Mr Robert Syms
Mr Peter Atkinson
101
Clause 50, page 32, line 35, leave out paragraph (b).
Mr Don Foster
Mr Michael Moore
102
Clause 50, page 32, line 36, leave out paragraph (c).
Mr Nick Raynsford
244
Clause 50, page 32, line 40, leave out 'directs' and insert 'may specify in a direction given'.
Mr Nick Raynsford
245
Clause 50, page 32, line 42, leave out 'he so directs' and insert 'may be specified in such a direction'.
Mr Nick Raynsford
359
Clause 50, page 32, line 42, at end insert—
'(4A) The Secretary of State must exercise his powers under this section so as to ensure that the aggregate of the amounts outstanding in respect of the principal of loans made under this section does not at any time exceed £1,000 million.'.
