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I am grateful for the support of the noble Lord, Lord Hunt, and that of the noble and learned Lord, Lord Lyell. I suspect that we are now coming to the end of our third day of the Committee stage, during which we have had a friendly and constructive debate, so I do not want to choose too heavy a word to describe the Minister’s response to my amendment. Perhaps I should just say that I thought his reply was somewhat thin. I cannot see how it is disadvantageous to the change in culture and climate that we are all about in this Bill to seek to nominate an individual. If

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I may draw an analogy, the argument that the Government seem to be putting forward is that once a company has appointed a finance director, then no other member of the board or senior individual within the firm or corporate body needs to take any particular interest in its financial affairs because they would all be managed by that particular individual. His arguments are therefore somewhat on the thin side. However, I am sure that we will return to this issue on Report. In the circumstances, I shall withdraw the amendment.

Amendment, by leave, withdrawn.

[Amendment No. 79A not moved.]

Clause 8 agreed to.

Lord Bassam of Brighton: I am grateful to the Committee for the progress that we have made today. It may be a convenient moment for the Committee to adjourn until tomorrow at 2 pm.


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