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Emissions Trading
Mr. Gareth R. Thomas accordingly presented a Bill to establish emissions trading; to create an emissions trading authority; to require the corporate disclosure of emissions; and for related purposes: And the same was read the First time; and ordered to be read a Second time on Friday 21 July, and to be printed [Bill 65.].
Mr. John Bercow (Buckingham):
On a point of order, Madam Speaker. May I seek your guidance--not on the subject of lying, on which you have made the position abundantly clear, but on the subject of Ministers who, no doubt entirely inadvertently, give credence to untruths?
I seek your guidance, Madam Speaker, because of two recent and serious examples. The first occurred this afternoon, when the Prime Minister suggested to the House and the country that 200,000 people were in work today as a result of the new deal, although statistics released by the Department for Education and Employment show otherwise.
Madam Speaker:
Order. I will not enter into a political argument with the hon. Gentleman. What is the point of order for me?
Mr. Bercow:
The point of order, Madam Speaker, is simply this. Given that the information that the Prime Minister inadvertently gave inaccurately was nevertheless inaccurate, and given that the effect of that inaccuracy is unhelpful to millions of people who were watching on television at home, is there any means whereby you can instruct the Prime Minister to come to the House and apologise to the British people?
Madam Speaker:
These are political arguments. I fear that the hon. Gentleman is seeking to prolong Prime Minister's Question Time. If he wishes to pursue the matter, he must do so politically. He must do so through the Order Paper, rather than through the Chair.
Ordered,
As amended in the Standing Committee, further considered.
Brought up, and read the First time.
Mr. Howard Flight (Arundel and South Downs):
I beg to move, That the clause be read a Second time.
Madam Speaker:
With this it will be convenient to discuss new clause 34--Transfer to Financial Services Ombudsman of functions of Pensions Ombudsman--
Mr. Flight:
New clause 2 is to a substantial extent a probing amendment. Members will be aware that the roles of different parties in the provision of financial services have changed. Typically, pension fund consultants will advise pension funds on the spread and constitution of their assets among bonds, equities, international assets and domestic assets. They will also advise funds on the appointment of fund managers. Accountants provide similar services to companies and to high net worth individuals. Indeed, lawyers are also providing such advice.
That the following provisions shall apply to proceedings on the Financial Services and Markets Bill:--
1.--(1) Remaining proceedings on Consideration and proceedings on Third Reading shall be completed at today's sitting.
(2) Proceedings on Consideration shall, if not previously concluded, be brought to a conclusion at Nine o'clock.
(3) Subject to sub-paragraph (2), each part of proceedings on Consideration shall, if not previously concluded, be brought to a conclusion at the time specified in the second column of the Table.
Proceedings--Time for conclusion of proceedings
Remaining New Clauses; amendments to Clauses 1 to 9 and 11 to 18--One hour after commencement of proceedings on this Order.
Amendments to Clause 19--Two hours after commencement of proceedings on this Order.
Amendments to Clauses 20 to 51 and 53 to 94--Three hours after commencement of proceedings on this Order.
Amendments to Clauses 95 to 203--Four hours after commencement of proceedings on this Order.
Remaining proceedings on consideration--Five hours after commencement of proceedings on this Order.
(4) Proceedings on Third Reading shall, if not previously concluded, be brought to a conclusion at Ten o'clock.
2.--(1) For the purpose of bringing any proceedings to a conclusion in accordance with paragraph 1 the Speaker shall forthwith put the following Questions (but no others)--
(a) any Question already proposed from the Chair;
(b) any Question necessary to bring to a decision a Question so proposed;
(c) the Question on any amendment moved or Motion made by a Minister of the Crown;
(d) any other Question necessary for the disposal of the business to be concluded;
and on a Motion for a new Clause or Schedule, the Speaker shall put only the Question that the Clause or Schedule be added to the Bill.
(2) If two or more Questions would otherwise fall to be put under sub-paragraph (1)(c) on amendments moved or Motions made by a Minister of the Crown, the Speaker shall instead put a single Question in relation to those amendments or Motions.
3.--(1) This paragraph applies if--
(a) a Motion for the Adjournment of the House under Standing Order No. 24 (Adjournment on specific and important matter that should have urgent consideration) has been stood over to Seven o'clock; but
(b) proceedings to which this Order applies have begun before then.
(2) Proceedings on that Motion shall stand postponed until the conclusion of those proceedings.
4.--(1) No Motion shall be made to alter the order in which any proceedings on the Bill are taken.
(2) No dilatory Motion with respect to, or in the course of, proceedings to which this Order applies shall be made except by a Minister of the Crown; and the Question on any such Motion shall be put forthwith.
(3) No debate shall be permitted on any Motion to recommit the Bill (whether as a whole or otherwise), and the Speaker shall put forthwith any Question necessary to dispose of the Motion, including the Question on any Amendment.
5. Standing Order No. 82 (Business Committee) shall not apply to this Order.
6. Standing Order No. 15(1) (Exempted business) shall apply to the proceedings to which this Order applies.
7. Proceedings to which this Order applies shall not be interrupted under any Standing Order relating to the sittings of the House.
8.--(1) If any motion is made by a Minister of the Crown to amend this Order so as to provide a greater amount of time for proceedings on the Bill under paragraph 1 of this Order, the Question thereon shall be put forthwith and may be decided, though opposed, at any hour.
(2) If any Motion is made by a Minister of the Crown to supplement the provisions of this Order in respect of proceedings on any Lords Amendments or any subsequent message from the Lords relating to the Bill, such Motion may be proceeded with, though opposed, at any hour and the proceedings shall, if not previously concluded, be brought to a conclusion three quarters of an hour after they have been commenced.
(3) If at any day's sitting the House is adjourned, or if the sitting is suspended, before the time at which any proceedings are to be brought to a conclusion under this Order, no notice shall be required of a Motion made at the next sitting by a Minister of the Crown for varying or supplementing the provisions of this Order.-- [Mr. Dowd.]
".--(1) The Treasury shall specify each of the activities set out in subsection (2) in any order made by it pursuant to section 20.
(2) The activities referred to in subsection (1) are the following--
(a) providing advice to a consumer on the choice of a manager;
(b) providing advice to a consumer on the performance of assets under the management of a manager;
(c) providing advice to a consumer on asset mix or allocation for a fund;
(d) advising on the structuring or reorganisation of a fund.
(3) References in this section to advice and advising do not include the provision of legal advice.
(4) "Consumer" means a person who uses, or may be contemplating using, the services provided by a manager.
(5) "Manager" means a person who performs the regulated activity of managing investments in the United Kingdom.
(6) "Fund" means an occupational pension scheme, or other assets held under trust.
(7) "Occupational pension scheme" means any scheme or arrangement which is comprised in one or more instruments or agreements and which has, or is capable of having, effect in relation to one or more descriptions or categories of employment so as to provide benefits, in the form of pensions or otherwise, payable on termination of service, or on death or retirement, to or in respect of earners with qualifying service in an employment of any such description or category.".--[Mr. Flight.]
3.49 pm
".--(1) There shall be transferred to the scheme operator all the functions and powers of the Pensions Ombudsman established under Part X of the Pension Schemes Act 1993 (as amended by the Pensions Act 1995).
(2) The Treasury may by order--
(a) provide for the transfer of any property, rights or liabilities held, enjoyed or incurred by any person in connection with functions transferred under this section;
(b) provide for the carrying on and completion by or under the authority of the scheme operator of any proceedings, investigations or other matters commenced, before the order takes effect, by or under the authority of the Pensions Ombudsman;
(c) make any transitional, incidental or consequential provision which is necessary or expedient as a result of the transfer of functions under this section;
(d) provide for the substitution of the scheme operator for the Pensions Ombudsman in any instrument, contract or legal proceedings made or begun before the order takes effect.
(3) The Treasury may make regulations providing for--
(a) the transfer to the scheme operator of any staff previously employed in the service of the Pensions Ombudsman;
(b) the terms on which any such transfer shall take place; and
(c) the terms on which the employment of any person previously employed in the service of the Pensions Ombudsman may be terminated.
(4) In this section "scheme operator" means the body corporate established under Schedule 14 to operate the disputes resolution procedure referred to in section 200 as "the ombudsman scheme".".
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