Vote Bundle Text (900208-02)

Amendments proposed to the Transport Bill - continued	House of Commons

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Mr Nick Raynsford

246

Clause 50, page 32, line 44, leave out 'the Treasury may direct' and insert 'may be specified in a direction given by the Treasury'.

Mr Bernard Jenkin
Mr Robert Syms
Mr Peter Atkinson

315

Clause 51, page 33, line 9, after 'liabilities', insert ', including the pension rights of employees whose employment may be subject to transfer under sections 40-47,'.

Mr Don Foster
Mr Michael Moore
Mr Bernard Jenkin
Mr Robert Syms
Mr Peter Atkinson

103

Clause 51, page 33, line 17, leave out paragraph (b).

Mr Don Foster
Mr Michael Moore

104

Clause 51, page 33, line 18, leave out paragraph (c).

Mr Nick Raynsford

360

Clause 51, page 33, line 30, at end insert—

'(8A) The Treasury and the Secretary of State must exercise their powers under this section so as to ensure that the aggregate of the amounts of principal in relation to which guarantees are given under this section does not at any time exceed £500 million.'.

Mr Nick Raynsford

361

Clause 51, page 33, line 36, at end insert—

'(11) If a payment is not made as required by arrangements under subsection (8), as soon as practicable after the default occurs the Treasury or the Secretary of State (depending on who made the arrangements) must lay a statement of the default before each House of Parliament.'.

Mr Bernard Jenkin
Mr Robert Syms
Mr Peter Atkinson

367

Clause 52, page 33, line 40, leave out subsection (2).

Mr Don Foster
Mr Michael Moore
Mr Bernard Jenkin
Mr Robert Syms
Mr Peter Atkinson

105

Clause 52, page 34, line 3, leave out paragraph (b).

Mr Don Foster
Mr Michael Moore

106

Clause 52, page 34, line 4, leave out paragraph (c).

Mr Bernard Jenkin
Mr Robert Syms
Mr Peter Atkinson

368

Clause 53, page 34, line 25, leave out 'the transferee is wholly owned by the Crown.' and insert 'shares in the transferee are held by the Crown (whether or not a special share within the meaning of section 49 above, and whether or not such special share has converted to ordinary shares).'.

Mr Nick Raynsford

410

Clause 54, page 35, line 14, leave out 'neither the Secretary of State nor the Treasury' and insert 'none of the persons listed in subsection (6A)'.

Mr Bernard Jenkin
Mr Robert Syms
Mr Peter Atkinson

369

Clause 54, page 35, line 17, after 'satisfied', insert ', provided that where the condition in subsection (2) is satisfied only in respect of paragraph (b) of that subsection, this subsection shall exempt the Secretary of State and the Treasury only in respect of the exercise of rights attaching to the special share.'.

Mr Nick Raynsford

411

Clause 54, page 35, line 28, leave out 'neither the Secretary of State nor the Treasury' and insert 'none of the persons listed in subsection (6A)'.

Mr Nick Raynsford

412

Clause 54, page 35, line 40, at end insert—

'(6A) The persons are—

(a) a Minister of the Crown;

(b) a Northern Ireland Minister;

(d) a Northern Ireland Department.'.

Mr Bernard Jenkin
Mr Robert Syms
Mr Peter Atkinson

370

Clause 54, page 35, line 41, leave out from second 'share' to end of line 43 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;

(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 Nick Raynsford

413

Clause 54, page 35, line 44, leave out from 'if' to 'is' in line 45 and insert 'the conditions in subsections (9) and (10) are satisfied.

(9) The first condition is that the company'.

Mr Nick Raynsford

414

Clause 54, page 35, line 46, leave out from 'State' to end of line 1 on page 36 and insert—

'(10) The second condition is that the company is—

(a) wholly owned by the Crown, or

(b) a subsidiary of the transferee.'.

Mr Nick Raynsford

362

Clause 55, page 36, line 25, leave out 'interest as well as liability for principal' and insert 'principal only'.

Mr Nick Raynsford

251

Clause 59, page 38, line 19, leave out 'corresponding right in Scotland' and insert 'in Scotland the right of the fiar on the termination of a liferent'.

Mr Nick Raynsford

326

Clause 59, page 38, line 28, leave out 'by virtue of' and insert 'under'.

Mr Nick Raynsford

247

Clause 60, page 39, line 43, leave out from 'as' to end of line 44 and insert 'may be specified in directions given by the Treasury or the Secretary of State'.

Mr Nick Raynsford

249

Schedule 6, page 156, leave out line 34 and insert 'at such times as the transferee may specify in directions given to the transferor'.

Mr Nick Raynsford

250

Schedule 6, page 157, line 27, leave out 'he may direct' and insert 'may be specified in a direction given by him'.

Mr Nick Raynsford

327

Schedule 6, page 159, line 38, leave out 'by virtue of' and insert 'under'.

Mr Nick Raynsford

328

Schedule 6, page 159, line 48, leave out 'by virtue of' and insert 'under'.

Mr Nick Raynsford

329

Schedule 7, page 162, line 32, leave out 'by virtue of' and insert 'under'.

Mr Nick Raynsford

330

Schedule 7, page 163, line 3, at end insert—

'(5) Expressions used in this paragraph and in the 1992 Act have the same meanings in this paragraph as in that Act.'.

Mr Nick Raynsford

331

Schedule 7, page 163, line 7, leave out 'makes' and insert 'gives'.

Mr Nick Raynsford

332

Schedule 7, page 163, line 11, leave out from 'consideration' to 'value' in line 12 and insert '—

(a) provided by him wholly and exclusively for the securities, and

(b) equal to the market'.

Mr Nick Raynsford

333

Schedule 7, page 163, line 14, at end insert—

'(4) Expressions used in this paragraph and in the 1992 Act have the same meanings in this paragraph as in that Act.'.

Mr Nick Raynsford

334

Schedule 7, page 163, line 14, at end insert—

'3A.—(1) This paragraph applies if—

(a) the Secretary of State gives a direction under section 55 above requiring the CAA to release a company from liability in respect of debts,

(b) in connection with the direction the Secretary of State gives a direction or directions under section 56 above, and

(2) Sub-paragraph (3) applies if the direction under section 56 requires securities to be issued to one person only or the directions under that section (taken together) require securities to be issued to one person only; and sub-paragraph (4) applies in any other case.

(3) For the purposes of the 1992 Act the person to whom the securities are issued is to be treated as acquiring them for a consideration—

(a) provided by him wholly and exclusively for the securities, and

(b) equal to the amount of the liability affected by the release required by the direction under section 55.

(4) For the purposes of the 1992 Act a person to whom any of the securities are issued is to be treated as acquiring them for a consideration—

(a) provided by him wholly and exclusively for the securities, and

(b) equal to such part as is just and reasonable of the amount of the liability affected by the release required by the direction under section 55.

(5) This paragraph applies whether or not the person to whom the securities are issued, or any person to whom any of the securities are issued, is a person transferring anything under the transfer scheme in connection with which the direction under section 55 is given.

(6) Expressions used in this paragraph and in the 1992 Act have the same meanings in this paragraph as in that Act.'.