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Lord McIntosh of Haringey moved Amendments Nos. 168 to 173:
- Page 256, line 26, leave out ("insurance contracts") and insert ("contracts of insurance").
- Page 256, line 29, leave out ("deposit-taking,") and insert ("accepting deposits,").
- Page 256, line 34, leave out from ("Kingdom") to end of line 5 on page 257 and insert ("--
On Question, amendments agreed to.
Schedule 7 [The Authority as Competent Authority for Part VI]:
Lord McIntosh of Haringey moved Amendments Nos. 174 to 175:
On Question, amendments agreed to.
Schedule 12 [Transfer schemes: certificates]:
Lord McIntosh of Haringey moved Amendments Nos. 176 to 192:
On Question, amendments agreed to.
Lord McIntosh of Haringey moved Amendments Nos. 193 to 198:
On Question, amendments agreed to.
Schedule 20 [Minor and Consequential Amendments]:
Lord McIntosh of Haringey moved Amendments Nos. 199 to 201:
On Question, amendments agreed to.
Lord McIntosh of Haringey moved Amendments Nos. 202 to 209:
The noble Lord said: My Lords, perhaps I may say something here that should have been included in a previous speaking note. I should like to express my gratitude to the current Deputy Speaker, the noble Lord, Lord Elton, for encouraging us to include the repeal of the Insurance Brokers (Registration) Act 1977 Act (Amendment No. 203) in this grouping. I beg to move.
On Question, amendments agreed to.
Lord McIntosh of Haringey: My Lords, I beg to move that the Bill do now pass.
Moved, That the Bill do now pass.--(Lord McIntosh of Haringey.)
Lord Saatchi: My Lords, perhaps I may crave the indulgence of the House for a few minutes. I should like to put a few brief comments on the record. I should like, first, to thank the Minister for the way in which he has presided over this very long and complicated process. It seems to me that he has shown an extraordinary grasp of the complicated issues in the Bill. Indeed, I shall never forget the moment when my noble friend Lord Onslow asked the noble Lord to explain exactly what he meant after he had read out a particularly complicated brief on an extremely difficult clause; and he did. He did so in simple plain language; it was a stellar performance.
The Minister has been tremendously courteous and very forgiving of the procedural stumbles that we on this side of the House have often made; and that applies particularly to me. We have greatly appreciated the breezy and cheerful way in which he has been able to reject our proposals, on the grounds either that they were unnecessary or that they were wrong. However, he has always done so with great good cheer, and that has taken the sting out of his rejections. I am really most grateful to the noble Lord; indeed, I have learnt a tremendous amount from observing his performance on this Bill. I should add that I hope that his cold gets better very soon.
I should also like to thank the noble Lord, Lord Newby, because we struck up an excellent relationship at the beginning of the proceedings on the Bill. We seemed to approach certain key issues, such as corporate governance and the Takeover Panel, from a similar point of view. I am most grateful to the noble Lord for the many deep and long conversations that we have had on such issues.
I must, however, also thank our team of Back-Benchers, although they are not present in the Chamber this evening. Nevertheless, I hope that they will read my tribute to them in Hansard. They have been a wonderful volunteer army and we have been a merry band of brothers. I have had the great privilege
(a) its head office, and
(b) if it has a registered office, that office,
must be in the United Kingdom.
(2) If the person concerned has its head office in the United Kingdom but is not a body corporate, it must carry on business in the United Kingdom.").
Page 258, line 5, after ("1") insert ("and 3").
Page 258, line 11, after ("1") insert ("and 3").
Page 258, line 13, at beginning insert ("the").
Page 259, line 22, after ("if") insert ("--
(a) sub-paragraph (1) of").
Page 259, line 23, at end insert ("; and
(b) for the words from the beginning to "(a)" in sub-paragraph (3) of that paragraph, there were substituted "Sub-paragraph (2) does not apply".").
Page 269, line 21, leave out ("long-term insurance business") and insert ("business which consists of the effecting or carrying out of contracts of long-term insurance").
Page 269, line 29, leave out ("general insurance business") and insert ("business which consists of the effecting or carrying out of contracts of general insurance").
Page 269, line 36, leave out ("given").
Page 269, line 44, leave out ("insurance companies") and insert ("persons who effect or carry out contracts of insurance").
Page 270, line 9, leave out ("insurance company,") and insert ("insurer,").
Page 270, line 10, after ("responsible") insert ("in Switzerland").
Page 270, line 10, leave out ("insurance companies in Switzerland") and insert ("persons who effect or carry out contracts of insurance").
Page 270, line 16, leave out ("insurance company" means a company") and insert ("insurer" means a body").
Page 270, line 19, leave out ("general insurance contracts") and insert ("contracts of general insurance").
Page 270, line 20, leave out ("reinsurance business") and insert ("the effecting or carrying out of contracts of reinsurance").
Page 270, line 29, leave out ("insurance companies") and insert ("persons who effect or carry out contracts of insurance").
Page 270, line 36, leave out ("insurance companies") and insert ("persons who effect or carry out contracts of insurance").
Page 271, line 1, leave out ("insurance business") and insert ("contracts of insurance").
Page 272, line 16, leave out ("insurance company") and insert ("insurer").
Page 272, line 25, leave out ("insurance company"") and insert ("insurer"").
Page 272, line 27, leave out ("general insurance business") and insert ("a regulated activity consisting of the effecting of contracts of general insurance").
Page 272, line 30, leave out ("long-term insurance business") and insert ("a regulated activity consisting of the effecting of contracts of long-term insurance").
Page 285, line 36, at end insert--
(" . In section 37 (restrictions on combinations of business), omit subsections (1), (1A) and (7A) to (9).").
Page 285, line 37, leave out ("37") and insert ("38").
Page 287, line 39, leave out paragraph 17.
Page 288, line 10, at end insert--
(" . In section 6 (minimum and maximum number of members), omit subsections (2) to (6).
. In section 11 (loans), omit subsections (2) and (6).
. Omit sections 11B (loans approved by credit unions), 11C (grant of certificates of approval) and 11D (withdrawal of certificates of approval).").
Page 288, line 13, leave out paragraphs (a) and (b) and insert ("omit subsections (2), (3), (5) and (6)").
Page 288, line 14, at end insert--
(" . In section 28 (offences), omit subsection (2).").
Page 290, line 3, leave out paragraph 1.
Page 291, line 3, leave out sub-paragraphs (5) to (7).
Page 291, line 36, leave out sub-paragraph (9).
Page 293, line 38, at end insert--
("1923 c. 8. The Industrial Assurance Act 1923. The whole Act.
1948 c. 39. The Industrial Assurance and Friendly Societies Act 1948. The whole Act.")
Page 294, line 11, at end insert--
("1977 c. 46. The Insurance Brokers (Registration) Act 1977. The whole Act.")
Page 294, line 12, column 3, at beginning insert--
("Section 6(2) to (6). Section 11(2) and (6). Sections 11B, 11C and 11D.")
Page 294, line 13, column 3, leave out from ("14,") to end of line 16 and insert ("subsections (2), (3), (5) and (6)").
Page 294, line 16, column 3, at end insert--
("Section 28(2).")
Page 294, line 18, column 3, leave out ("Part V.").
Page 294, column 3, leave out lines 29 to 31.
Page 294, line 36, column 3, after ("to") insert--
("36. In section 37, subsections (1), (1A) and (7A) to (9). Sections 38 to")
7.57 p.m.
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