§ Mr. Darling
I beg to move Amendment No. 254, in page 73, line 19, after 'applies' to insert:'or, if it is a body corporate, of another body corporate which is its holding company (within the meaning of the Companies Act 1948).The Amendment rectifies an omission in Clause 82(1). Clause 82 strengthens the provisions of Clause 81(1) by ensuring that the Board of Trade is notified of 2407 changes in the persons controlling an insurance company which is a body corporate, by making it obligatory that such a person should notify the company when he gains, or relinquishes, control over it.
The Clause should also have provided an additional safeguard in the case of changes in persons gaining, or relinquishing, control over the holding company of such an insurance company, in order to strengthen the provisions of Clause 81(2).
§ Amendment agreed to.