§ Mr. KaufmanI beg to move Amendment No. 47, in page 7, line 23, leave out
'any body corporate which carries on such an undertaking'and insert:'a relevant body corporate'.
§ Mr. Deputy Speaker (Mr. Oscar Murton)With this we are taking Government Amendments Nos. 48 to 51.
§ Mr. KaufmanPerhaps I might go through the amendments briefly. Amendment No. 47 makes it possible for a prohibition order to be made not only in relation to a body corporate which carries on an important manufacturing undertaking but also in relation to a holding company of a group of companies which carry on such an undertaking and also in relation to the individual companies of such a group if that is necessary, for example, because the holding company is a foreign company.
Amendment No. 48 will make it necessary for the Government when making a prohibition order to satisfy the undertaking which is threatened with a change of control. Previously the Govern- 1350 ment could simply have prohibited a change of control of a company without telling it which undertaking the Government wished to retain from unacceptable foreign ownership. The amendment will give greater certainty to the companies affected and give statutory effect to the procedure which the Government wish to adopt.
Amendments 49 and 51 relate to discussion in Committee, when the question whether the powers to make a vesting order should be confined to the shares involved in the change of control was debated. The Government then made it clear that the power could not be confined to this, since that would make it impossible to act when ownership of all the company's shares was the only means of saving the company, but an undertaking was given to consider the matter further.
We now propose that unless the national interest requires otherwise the vesting order will vest only those shares involved in the change of control. This will enable the Government to vest all the shares where necessary, but normally only the more restricted vesting will occur.
Amendment No. 50 is a small amendment, designed to avoid a technical breach of the Companies Act 1948. Section 1 of that Act provides that a company should have a minimum number of members of seven or, if it is a private company, of two. The vesting of all the shares in a company in the Secretary of State or the National Enterprise Board, as was possible under the clause, would conflict with this, and to avoid any such conflict we wish to make it clear that the vesting order may vest shares in nominees for the Secretary of State or the Board, as well as in the Secretaary of State and the Board. It is a small point, designed to deal with a technical difficulty, and I hope that it will occasion no disagreement.
§ Mr. GryllsThe Under-Secretary, probably by mistake did not reply to a question I put to him earlier about the comment made by his predecessor. Perhaps he could take the opportunity of replying to it later.
We agree with Amendments Nos. 47 to 51, which are put before us in answer to questions asked in Committee. I take it that Amendment No. 48 is an attempt to 1351 tighten up the Bill. In layman's nontechnical terms, the Bill as originally drafted meant that nobody from, say, Iran could take over any British company. Obviously, that is not the Government's intention. Their intention is that nobody from Iran, for example, shall take over a certain British company if they do not think that that is suitable. That is fair enough. The amendment clarifies the situation.
But perhaps the insertion of the words "relating to that undertaking" after "things" would further clarify it. If the Minister felt that that would be helpful, perhaps an amendment could be moved in another place.
We are pleased about Amendment No. 51, because we said in Committee that we did not want any Government to use the powers to take over whole groups of companies just because one part was threatened by an overseas takeover bid. Under the amendment, only that part of a group or company threatened with a takeover shall be taken into public control. That is an improvement.
Is there anything in the measure or the vesting order to prevent the Secretary of State disposing of capital assets vested in him or his nominees by virtue of such an order? It is important that the Government should be able to get rid of things. A rather mysterious Amendment No. 52 caught my eye on the Notice Paper on Friday. It seemed to fly out of the window over the weekend. I do not know what has happened to it. It has apparently disappeared.
10.45 p.m.
I hope that the Minister will consider this matter, even if he is not moving the amendment concerned—which apparently he is not, because it is not on the Notice Paper for today, although it was on the Notice Paper on Friday. It is the amendment that never was—or was but never is. Perhaps the Minister will clarify this matter.
If the Minister is now satisfied, as a result of legal advice over the weekend, that there are clauses in the Bill which already cover this point and that the Secretary of State is able to dispose of shares he has taken for this particular purpose, it is not necessary to have the Amendment No. 52 which was on the Notice Paper.
1352 It is important that this point should be answered. I think that the Minister would want to satisfy the House about the matter, because the amendment appeared on the Notice Paper.
Therefore, with that query and hopefully with an answer on the comment made by the former Under-Secretary in Committee, I think that we could probably make progress quite quickly.
§ Mr. KaufmanThe suggested additional amendment which the hon. Gentleman has put forward is one that we shall look at. If the clarification that he suggests would be improved by the addition of those or other words, we shall seek to do so. I give no commitment on the matter, but obviously we shall look at it with care.
As regards Amendment No. 52, we thought about the matter but we decided that it was not a necessary amendment. It was, in a sense, a declaratory amendment, but, on reflection, it appeared to us that it declared too much. To that extent, we decided not to proceed with it.
As regards the question that the hon. Gentleman put to me earlier—I apologise to him for not having dealt with it, purely through omission—my hon. Friend the former Under-Secretary talked in Committee of representations that had been made, and he said that the matter would be looked a t. He gave no commitment. Indeed, the somewhat rueful reception given by the hon. Member for Caernarvon (Mr. Wigley) to my response to his defective amendment will show that we decided not to proceed down that road.
§ Mr. GryllsI am grateful to the Minister for that explanation. Therefore, we can take it now as absolutely cast-iron that these clauses will not apply to non-manufacturing industry. I take it that that is a very fair assurance from the Government.
The Minister did not satisfy me that he was absolutely clear about Amendment No. 52. May I assume that he has removed that amendment from the Notice Paper, and therefore not moved it, because he is satisfied that the Secretary of State can dispose of capital or assets vested in him or his nominees by virtue of such an order? If the Minister can answer "Yes". I shall be satisfied. If he can answer with a categorical 1353 "Yes" to the question of non-manufacturing industry also, I think that we are set for a very auspicious evening.
§ Mr. WigleyOn that very point, there is an amendment later on the Notice Paper, No. 166, which raises that question. The proposal was to add an additional clause to facilitate the transfer to some third party which was not in the public sector. I take it that the assurance given to the Opposition Front Bench on this point would also cover Amendment No. 166, which would therefore be unnecessary in this context.
There was a lot of debate in Committee on this matter. The interpretation at that stage was that this point was not covered, but presumably it is now covered by the amendments and the interpretations that have subsequently come forward, and therefore the later amendment is unnecessary.
§ Mr. KaufmanI think that we had better leave consideration of that matter until we come to it. If by any chance we do not debate it, I shall take some opportunity of clarifying our attitude to it.
In answer to the hon. Member for Surrey, North-West (Mr. Giylls), I say that we are satisfied that the Bill as it now stands will conform to what he requests. We would not have been satisfied with the amendment. The amendment is declaratory and we think that if it had
| '(3A) Where 30 per cent. or more of the share capital of the body corporate vests in the Secretary of State or the Board by virtue of a vesting order, the Secretary of State or, as the case may be, the Board shall serve on the holders of the share capital that does not so vest, within 28 days of the making of the order, a notice informing them of the making of the order and of the right of each of them to require the Secretary of State or the Board to acquire the share capital held by him. |
| (3B) The recipient of a notice under subsection (3A) above may, within three months of the date of the notice, serve on the Secretary of State or, as the case may be, the Board, a counter-notice requiring him or them to acquire the share capital held by the recipient in the body corporate. |
| (3C) A vesting order shall have effect, from the date of a counter-notice, as if the share capital specified in the notice had been specified in the vesting order. |
| (3D) Subsections (3A) to (3C) above shall have the same effect in relation to share capital vesting in nominees for the Secretary of State or the Board as in relation to share capital vesting as mentioned in those subsections'. |
§ Mr. Deputy Speaker (Mr. Oscar Murton)With this it will be convenient to take the following: Amendment (a), in line 3, after 'on', insert 'each of'.
Amendment (b), in line 3, after 'of', insert 'any part of'.
Amendment (c), in line 4, after 'informing', insert 'each of'.
§ remained on the Order Paper it would have declared too much. That being so, we think it better that it should not be adopted.
§ Amendment agreed to.
§ Amendments made: No. 48, in page 7, line 28, at end insert 'specify the undertaking and'.
§
No. 49, in page 8, line 4, leave out from beginning to 'or' in line 6 and insert:
'(i) share capital and loan capital to which this subsection applies,'.
No. 50, in page 8, line 8, at end add:
'or in nominees for the Board or himself'
No. 51, in page 8, line 8, at end add:
'(2A) The share capital and loan capital to which subsection (2) above applies are—
together with so much (if any) of the loan capital of the relevant body corporate as may be specified in the order.'.—[Mr. Kaufman.]
§ The Secretary of State for Industry (Mr. Eric Varley)I beg to move Amendment No. 53, in page 8, line 13, at end insert:
§ Amendment (d), in line 6, after 'or' insert ', as the case may be,'.
§
Amendment (e), in line 6, after second 'the', insert
'whole of that person's such holding of'.
§ Amendment (f), in line 6, leave out 'held by him'.
§ Mr. VarleyI am very pleased that I have been able to have a go before the 1355 guillotine falls at 11 o'clock. I was set to go on what I thought was an important amendment in the first stage of our proceedings. I am glad that I have not missed my chance although this is a relatively insignificant amendment when we consider what has taken place so far. Perhaps my view is not shared by the hon. Member for Surrey, North-West (Mr. Grylls).
We have proposed in Amendments Nos. 49 and 51 that unless the national interest requires otherwise, a vesting order will vest only those shares involved in the change of control. This will enable the Government to vest all the shares where this is necessary but it will mean that otherwise, and normally, only the more restricted vesting will occur.
We have also given thought to the position of the other shareholders, and this is dealt with in Amendment No. 53. We recognise that some shareholders might feel that they did not wish to hold shares in a company which had fallen under the control of the Government or the NEB, and that, if many felt like that, it might be difficult for shareholders to sell their shares.
To deal with this, we have tabled an amendment in subsections (3B) to (3D) that will require the Secretary of State or the board, or its nominees, to make an offer to remaining shareholders if more than 30 per cent. of the share capital is vested under a vesting order. This offer will cover all outstanding shares. The remaining shareholders will then have three months to choose whether they wish to retain their shares, sell them on the market or have them vested.
This gives the shareholders a free and fair choice and ensures that their interests are safeguarded. There is an obvious anology with the requirement in the City Code under which a bidder who acquires 30 per cent. of the shares in a company is required to make a bid for the remaining shares on the same terms.
§ Mr. Deputy SpeakerBefore I put the Question, perhaps the right hon. Member for Henley (Mr. Heseltine) will inform the Chair whether it is desired to divide on any of the sub-amendments to Amendment No. 53?
§ Mr. HeseltineWe should like to divide on Amendment (a) to Amendment No. 53.
§ Mr. Deputy SpeakerThen in that case the hon. Member for Surrey, North-West (Mr. Grylls) should move Amendment (a).
§ Mr. Michael Grylls (Surrey, North-West)I beg to move, as an amendment to the proposed amendment (a), in line 3, after 'on' insert 'each of'.
§ Mr. Deputy SpeakerThe Question is—
§ Mr. GryllsMay 1, on a point of order, Mr. Deputy Speaker, seek your assistance in this moment of confusion, which I am sure is my fault. Do you want me to move each sub-amendment individually in regard to sub-amendment (a) to (f), or should I move only the first amendment, amendment (a)?
§ Mr. Deputy SpeakerI doubt whether there would be time for that. I suggest that it would be convenient to deal with amendment (a).
§ Mr. GryllsI have already sought to move it.
§ Mr. Deputy SpeakerPerhaps I could give the hon. Gentleman a little more guidance. He must sit down before 11 o'clock.
§ Mr. GryllsThank you very much for your guidance, Mr. Deputy Speaker.
I should inform the Secretary of State for Industry that we regard Amendment No. 53 as important. It is important that the remaining shareholders in a company vested in the Government should have the opportunity to pass on their shares to the Government. The Secretary of State may have done something important in taking this step—namely, he will have had an effect on industry and on the investing public. He will have satisfied the public that he means to use the clause fairly sensibly. I welcome that attitude. Our amendments (a) to (f) are tabled for clarification. The provision will make the situation cast-iron and crystal-clear. It may not be possible to work through this case tonight because of the guillotine, but I hope the Secretary of State will look at the matter in the same spirit as that in which he moved Amendment No. 53. If he thinks 1357 it is useful and wishes to make his purpose crystal-clear, he may consider moving these amendments in another place. I therefore ask my hon. Friends to support Amendment (a).
§ Question put, That the amendment to the proposed amendment be made:—
§ The House divied: Ayes 209, Noes 222.
1359| Division No. 257.] | AYES | [11.0 p.m. |
| Aitken, Jonathan | Hawkins, Paul | Percival, Ian |
| Alison, Michael | Hayhoe, Barney | Pink, R. Bonner |
| Atkins, Rt Hon H. (Spelthorne) | Henderson, Douglas | Powell, Rt Hon J. Enoch |
| Awdry, Daniel | Heseltine, Michael | Prior, Rt Hon James |
| Bain, Mrs Margaret | Hicks, Robert | Pym, Rt Hon Francis |
| Baker, Kenneth | Holland, Philip | Rathbone, Tim |
| Banks, Robert | Hooson, Emlyn | Rawlinson, Rt Hon Sir Peter |
| Beith, A. J. | Hordern, Peter | Rees, Peter (Dover & Deal) |
| Bennett, Dr Reginald (Fareham) | Howell, David (Guildford) | Reid, George |
| Benyon, W. | Howell, Ralph (North Norfolk) | Renton, Rt Hon Sir D. (Hunts) |
| Berry, Hon Anthony | Howells, Geraint (Cardigan) | Renton, Tim (Mid-Sussex) |
| Biffen, John | Hutchison, Michael Clark | Ridley, Hon Nicholas |
| Boscawen, Hon Robert | Irvine, Bryant Godman (Rye) | Ridsdale, Julian |
| Bottomley, Peter | James, David | Rifkind, Malcolm |
| Bowden, A. (Brighton, Kemptown) | Jenkin, Rt Hon P. (Wanst'd & W'df'd) | Roberts, Michael (Cardiff NW) |
| Boyson, Dr Rhodes (Brent) | Jesse!, Toby | Roberts, Wyn (Conway) |
| Braine, Sir Bernard | Johnston, Russell (Inverness) | Ross, Stephen (Isle of Wight) |
| Brotherton, Michael | Jopling, Michael | Ross, William (Londonderry) |
| Brown, Sir Edward (Bath) | Kershaw, Anthony | Rossi, Hugh (Hornsey) |
| Bryan, Sir Paul | Kilfedder, James | Rost, Peter (SE Derbyshire) |
| Buchanan-Smith, Alick | King, Evelyn (South Dorset) | Sainsbury, Tim |
| Buck, Antony | King, Tom (Bridgwater) | Scott, Nicholas |
| Budgen, Nick | Kirk, Peter | Shaw, Giles (Pudsey) |
| Bulmer, Esmond | Kitson, Sir Timothy | Shelton, William (Streatham) |
| Butler, Adam (Bosworth) | Knight, Mrs Jill | Shepherd, Colin |
| Carlisle, Mark | Knox, David | Shersby, Michael |
| Chalker, Mrs Lynda | Lamont, Norman | Sims, Roger |
| Churchill, W. S. | Lane, David | Sinclair, Sir George |
| Clarke, Kenneth (Rushcliffe) | Latham, Michael (Melton) | Skeet, T. H. H. |
| Clegg, Walter | Lawson, Nigel | Smith, Cyril (Rochdale) |
| Cockcroft, John | Lester, Jim (Beeston) | Smith, Dudley (Warwick) |
| Cooke, Robert (Bristol W) | Luce, Richard | Speed, Keith |
| Cope, John | MacCormick, Iain | Spence, John |
| Crawford, Douglas | McCrindle, Robert | Spicer, Michael (S Worcester) |
| Crouch, David | McCusker, H. | Sproat, Iain |
| Crowder, F. P. | Macfarlane, Neil | Stainton, Keith |
| Davies, Rt Hon J. (Knutsford) | MacGregor, John | Stanbrook, Ivor |
| Dean, Paul (N Somerset) | McNair-Wilson, P. (New Forest) | Stanley, John |
| Dodsworth, Geoffrey | Madel, David | Steel, David (Roxburgh) |
| Douglas-Hamilton, Lord James | Marshall, Michael (Arundel) | Steen, Anthony (Wavortree) |
| Drayson, Burnaby | Marten, Neil | Stewart, Donald (Western Isles) |
| Durant, Tony | Mates, Michael | Stewart, Ian (Hltchin) |
| Dykes, Hugh | Mather, Carol | Stradling Thomas, J. |
| Edwards, Nicholas (Pembroke) | Mawby, Ray | Taylor, Teddy (Cathcart) |
| Elliott, Sir William | Maxwell-Hyslop, Robin | Tebbit, Norman |
| Fairbairn, Nicholas | Mayhew, Patrick | Temple-Morris, Peter |
| Fairgrieve, Russell | Meyer, Sir Anthony | Thatcher, Rt Hon Margaret |
| Farr, John | Miller, Hal (Bromsgrove) | Thomas, Rt Hon P. (Hendon S) |
| Finsberg, Geoffrey | Mills, Peter | Thompson, George |
| Fisher, Sir Nigel | Miscampbell, Norman | Thorpe, Rt Hon Jeremy (N Devon) |
| Fletcher, Alex (Edinburgh N) | Mitchell, David (Basingstoke) | Trotter, Neville |
| Fletcher-Cooke, Charles | Moate, Roger | Tugendhat, Christopher |
| Fowler, Norman (Sutton C'f'd) | Molyneaux, James | van Straubenzee, W. R. |
| Fox, Marcus | Monro, Hector | Vaughan, Dr Gerard |
| Fraser, Rt Hon H. (Stafford & St) | Montgomery, Fergus | Viggers, Peter |
| Freud, Clement | Moore, John (Croydon C) | Wainwright, Richard (Come V) |
| Gilmour, Sir John (East Fife) | Morris, Michael (Northampton S) | Wakeham, John |
| Goodhart, Philip | Morrison, Charles (Devizes) | Walker, Rt Hon P. (Worcester) |
| Gower, Sir Raymond (Barry) | Morrison, Hon Peter (Chester) | Watt, Hamish |
| Gray, Hamish | Mudd, David | Weatherill, Bernard |
| Grimond, Rt Hon J. | Neave, Airey | Welsh, Andrew |
| Grist, Ian | Nelson, Anthony | Whitelaw, Rt Hon William |
| Grylls, Michael | Neubert, Michael | Wigley, Dafydd |
| Hall, Sir John | Newton, Tony | Wilson, Gordon (Dundee E) |
| Hall-Davis, A. G. F. | Normanton, Tom | Winterton, Nicholas |
| Hamilton, Michael (Salisbury) | Nott, John | Young, Sir G. (Ealing, Acton) |
| Hampson, Dr Keith | Page, Rt Hon R. Graham (Crosby) | Younger, Hon George |
| Hannam, John | Pardoe, John | |
| Harvie Anderson, Rt Hon Miss | Parkinson, Cecil | TELLERS FOR THE AYES: |
| Hastings, Stephen | Pattie, Geoffrey | Mr. Spencer Le Marchant and |
| Havers, Sir Michael | Penhaligon, David | Mr. Fred Silvester. |
| NOES | ||
| Allaun, Frank | Ashton, Joe | Bagier, Gordon A. T. |
| Archer, Peter | Atkins, Ronald (Preston N) | Barnett, Guy (Greenwich) |
| Armstrong, Ernest | Atkinson, Norman | Barnett, Rt Hon Joel (Heywood) |
| Bates, Alf | Grant, John (Islington C) | Ovenden, John |
| Bean, R. E. | Hamilton, James (Bothwell) | Owen, Dr David |
| Bennett, Andrew (Stockport N) | Hardy, Peter | Palmer, Arthur |
| Bishop, E. S. | Harrison, Walter (Wakefield) | Park, George |
| Blenkinsop, Arthur | Hart, Rt Hon Judith | Parker, John |
| Boardman, H. | Hatton, Frank | Pavitt, Laurie |
| Booth, Albert | Hayman, Mrs Helene | Phipps, Dr Colin |
| Boothroyd, Miss Betty | Heffer, Eric S. | Prescott, John |
| Bottomley, Rt Hon Arthur | Hooley, Frank | Price, C. (Lewisham W) |
| Boyden, James (Bish Auck) | Howell, Denis (B'ham, Sm H) | Price, William (Rugby) |
| Bray, Dr Jeremy | Hoyle, Doug (Nelson) | Richardson, Miss Jo |
| Brown, Hugh D. (Provan) | Huckfield, Les | Roberts, Albert (Normanton) |
| Brown, Robert C. (Newcastle W) | Hughes, Mark (Durham) | Roberts, Gwilym (Cannock) |
| Buchan, Norman | Hughes, Robert (Aberdeen N) | Roderick, Caerwyn |
| Buchanan, Richard | Hughes, Roy (Newport) | Rodgers, George (Chorley) |
| Callaghan, Rt Hon J. (Cardiff SE) | Hunter, Adam | Rodgers, William (Stockton) |
| Callaghan, Jim (Middleton & P) | Irvine, Rt Hon Sir A. (Edge Hill) | Rooker, J. W. |
| Campbell, Ian | Irving, Rt Hon S. (Dartford) | Ross, Rt Hon W. (Kilmarnock) |
| Canavan, Dennis | Jackson, Miss Margaret (Lincoln) | Rowlands, Ted |
| Carmichael, Neil | Jay, Rt Hon Douglas | Ryman, John |
| Carter-Jones, Lewis | Jenkins, Rt Hon Roy (Stechford) | Sandelson, Neville |
| Clemitson, Ivor | John, Brynmor | Sedgemore, Brian |
| Cocks, Michael (Bristol S) | Jones, Alec (Rhondda) | Selby, Harry |
| Cohen, Stanley | Jones, Barry (East Flint) | Shaw, Arnold (Ilford South) |
| Coleman, Donald | Jones, Dan (Burnley) | Sheldon, Robert (Ashton-u-Lyne) |
| Conlan, Bernard | Kaufman, Gerald | Short, Mrs Renée (Wolv NE) |
| Cook, Robin F. (Edin C) | Kerr, Russell | Silkin, Rt Hon John (Deptford) |
| Corbett, Robin | Kilroy-Silk, Robert | Silkin, Rt Hon S. C. (Dulwich) |
| Cox, Thomas (Tooting) | Kinnock, Neil | Sillars, James |
| Craigen, J. M. (Maryhill) | Lambie, David | Silverman, Julius |
| Crawshaw, Richard | Lamborn, Harry | Skinner, Dennis |
| Cronin, John | Lamond, James | Small, William |
| Crosland, Rt Hon Anthony | Leadbitter, Ted | Smith, John (N Lanarkshire) |
| Cryer, Bob | Lee, John | Spearing, Nigel |
| Cunningham, G. (Islington S) | Lewis, Ron (Carlisle) | Spriggs, Leslie |
| Cunningham, Dr J. (Whiten) | Lipton, Marcus | Stallard, A. W. |
| Dalyell, Tarn | Litterick, Tom | Stoddart, David |
| Davidson, Arthur | Lomas, Kenneth | Stott, Roger |
| Davies, Bryan (Enfield N) | Loyden, Eddie | Strang, Gavin |
| Davies, Denzil (Llanelli) | Lyon, Alexander (York) | Strauss, Rt Hon G. R. |
| Davis, Clinton (Hackney C) | Lyons, Edward (Bradford W) | Taylor, Mrs Ann (Bolton W) |
| Deakins, Eric | McCartney, Hugh | Thomas, Jeffrey (Abertillery) |
| Dean, Joseph (Leeds W) | McElhone, Frank | Thomas, Mike (Newcastle E) |
| de Freitas, Rt Hon Sir Geoffrey | MacFarquhar, Roderick | Thomas, Ron (Bristol NW) |
| Dempsey, James | McGuire, Michael (Ince) | Thorne, Stan (Preston South) |
| Doig, Peter | Mackenzie, Gregor | Tinn, James |
| Dormand, J. D. | McMillan, Tom (Glasgow C) | Tomlinson, John |
| Duffy, A. E. P. | McNamara, Kevin | Torney, Tom |
| Dunn, James A. | Madden, Max | Urwin, T. W. |
| Dunnett, Jack | Mallalieu, J. P. W. | Varley, Rt Hon Eric G. |
| Dunwoody, Mrs Gwyneth | Marks, Kenneth | Wainwright, Edwin (Dearne V) |
| Edelman, Maurice | Marquand, David | Walker, Harold (Doncaster) |
| Edge, Geoff | Marshall, Dr Edmund (Goole) | Ward, Michael |
| Ellis. Tom (Wrexham) | Marshall, Jim (Leicester S) | Watkinson, John |
| English, Michael | Mason, Rt Hon Roy | Weitzman, David |
| Evans, Ioan (Aberdare) | Maynard, Miss Joan | White, Frank R. (Bury) |
| Evans, John (Newton) | Mellish, Rt Hon Robert | Whitlock, William |
| Ewing, Harry (Stirling) | Mikardo, Ian | Williams, Alan (Swansea W) |
| Fernyhough, Rt Hon E. | Millan, Bruce | Williams, Alan Lee (Hornch'ch) |
| Fitch, Alan (Wigan) | Miller, Dr M. S. (E Kilbride) | Williams, Rt Hon Shirley (Hertford) |
| Flannery, Martin | Mitchell, R. C. (Soton, Itchen) | Williams, W. T. (Warrington) |
| Fletcher, Ted (Darlington) | Molloy, William | Wilson, Alexander (Hamilton) |
| Foot, Rt Hon Michael | Morris, Alfred (Wythenshawe) | Wilson, William (Coventry SE) |
| Fowler, Gerald (The Wrekin) | Morris, Charles R. (Openshaw) | Wise, Mrs Audrey |
| Fraser, John (Lambeth, N'w'd) | Mulley, Rt Hon Frederick | Woodall, Alec |
| Garrett, John (Norwich S) | Murray, Rt Hon Ronald King | Woof, Robert |
| Garrett, W. E. (Wallsend) | Newens, Stanley | Wrigglesworth, Ian |
| George, Bruce | Noble, Mike | Young, David (Bolton E) |
| Gilbert, Dr John | Oakes, Gordon | |
| Golding, John | Ogden, Eric | TELLERS FOR THE NOES: |
| Gourlay, Harry | O'Malley, Rt Hon Brian | Mr. Joseph Harper and |
| Graham, Ted | Orme, Rt Hon Stanley | Mr. John Ellis. |
| Grant, George (Morpeth) |
§ Question accordingly negatived.
§ It being after Eleven o'clock, Mr. Speaker proceeded, pursuant to Standing Order No. 43 (Business Committee) and the Orders [12th May and this day] to put forthwith the Question already proposed from the Chair.
1360
§
Amendment proposed, No. 53, in page 8, line 13, at end insert:
'(3A) Where 30 per cent or more of the share capital of the body corporate vests in the Secretary of State or the Board by virtue of a vesting order, the Secretary of State or, as the case may be, the Board shall serve on the holders of the share capital that does not so vest, within 28 days of the making of the order, a notice informing them of the making of the
1361
order and of the right of each of them to require the Secretary of State or the Board to acquire the share capital held by him.
(3B) The recipient of a notice under subsection (3A) above may, within three months of the date of the notice, serve on the Secretary of State or, as the case may be, the Board, a counter-notice requiring him or them to acquire the share capital held by the recipient in the body corporate.
(3C) A vesting order shall have effect, from the date of a counter-notice, as if the share
§ capital specified in the notice had been specified in the vesting order.
§ (3D) Subsections (3A) to (3C) above shall have the same effect in relation to share capital vesting in nominees for the Secretary of State or the Board as in relation to share capital vesting as mentioned in those subsections'.— [Mr. Varley.]
§ Question put, That the amendment be made:—
§ The House divided: Ayes 222, Noes 13.
1363| Division No. 258.] | AYES | [11.12 p.m. |
| Allaun, Frank | Fletcher, Ted (Darlington) | Mason, Rt Hon Roy |
| Archer, Peter | Foot, Rt Hon Michael | Maynard, Miss Joan |
| Armstrong, Ernest | Fowler, Gerald (The Wrekin) | Mellish, Rt Hon Robert |
| Ashton, Joe | Fraser, John (Lambeth, N'w'd) | Mikardo, Ian |
| Atkins, Ronald (Preston N) | Garrett, John (Norwich S) | Millan, Bruce |
| Atkinson, Norman | Garrett, W. E. (Wallsend) | Miller, Dr M. S. (E Kilbride) |
| Bagler, Gordon A. T. | George, Bruce | Mitchell, R. C. (Soton, Itchen) |
| Bain, Mrs Margaret | Gilbert, Dr John | Molloy, William |
| Barnett, Guy (Greenwich) | Golding, John | Morris, Alfred (Wythenshawe) |
| Bates, All | Gourlay, Harry | Morris, Charles R. (Openshaw) |
| Bean, R. E. | Graham, Ted | Mulley, Rt Hon Frederick |
| Bennett, Andrew (Stockport N) | Grant, George (Morpeth) | Murray, Rt Hon Ronald King |
| Bishop, E, S. | Grant, John (Islington C) | Newens, Stanley |
| Blenklnsop, Arthur | Hamilton, James (Bothwell) | Noble, Mike |
| Booth, Albert | Hardy, Peter | Oakes, Gordon |
| Boothroyd, Miss Betty | Harrison, Walter (Wakefield) | Ogden, Eric |
| Bottomley, Rt Hon Arthur | Hart, Rt Hon Judith | O'Malley, Rt Hon Brian |
| Boyden, James (Bish Auck) | Hatton, Frank | Orme, Rt Hon Stanley |
| Bray, Dr Jeremy | Hayman, Mrs Helene | Ovenden, John |
| Brown, Hugh D. (Provan) | Heffer, Eric S. | Owen, Dr David |
| Brown, Robert C. (Newcastle W) | Henderson, Douglas | Palmer, Arthur |
| Buchan, Norman | Hooley, Frank | Park, George |
| Callaghan, Rt Hon J. (Cardiff SE) | Howell, Denis (B'ham, Sm H) | Parker, John |
| Callaghan, Jim (Middleton & P) | Hoyle, Doug (Nelson) | Pavitt, Laurie |
| Campbell, Ian | Huckfield, Les | Phipps, Dr Colin |
| Canavan, Dennis | Hughes, Mark (Durham) | Prescott, John |
| Carmichael, Neil | Hughes, Robert (Aberdeen N) | Price, C. (Lewisham W) |
| Carter-Jones, Lewis | Hughes, Roy (Newport) | Price, William (Rugby) |
| Clemitson, Ivor | Hunter, Adam | Reid, George |
| Cocks, Michael (Bristol S) | Hutchison, Michael Clark | Richardson, Miss Jo |
| Cohen, Stanley | Irvine, Rt Hon Sir A. (Edge Hill) | Roberts, Albert (Normanton) |
| Coleman, Donald | Irving, Rt Hon S. (Dartford) | Roberts, Gwilym (Cannock) |
| Conlan, Bernard | Jackson, Miss Margaret (Lincoln) | Roderick, Caerwyn |
| Cook, Robin F. (Edin C) | Jay, Rt Hon Douglas | Rodgers, George (Chorley) |
| Corbett, Robin | Jenkins, Rt Hon Roy (Stechford) | Rodgers, William (Stockton) |
| Cox, Thomas (Tooting) | John, Brynmor | Rooker, J. W. |
| Craigen, J. M. (Maryhill) | Jones, Alec (Rhondda) | Ross, Rt Hon W. (Kilmarnock) |
| Crawford, Douglas | Jones, Barry (East Flint) | Rowlands, Ted |
| Crawshaw, Richard | Jones, Dan (Burnley) | Ryman, John |
| Crosland, Rt Hon Anthony | Kaufman, Gerald | Sandelson, Neville |
| Cryer, Bob | Kerr, Russell | Sedgemore, Brian |
| Cunningham, G. (Islington S) | Kilroy-Silk, Robert | Selby, Harry |
| Cunningham, Dr J. (Whiteh) | Kinnock, Neil | Shaw, Arnold (Ilford South) |
| Dalyell, Tam | Lambie, David | Sheldon, Robert (Ashton-u-Lyne) |
| Davidson, Arthur | Lamborn, Harry | Silkin, Rt Hon John (Deptford) |
| Davies, Bryan (Enfield N) | Lamond, James | Silkin, Rt Hon S. C. (Dulwich) |
| Davies, Denzil (Llanelli) | Leadbitter, Ted | Sillars, James |
| Davis, Clinton (Hackney C) | Lewis, Ron (Carlisle) | Silverman, Julius |
| Deakins, Eric | Lipton, Marcus | Skinner, Dennis |
| Dean, Joseph (Leeds w) | Litterick, Tom | Smith, John (N Lanarkshire) |
| de Freitas, Rt Hon Sir Geoffrey | Lomas, Kenneth | Spearing, Nigel |
| Dempsey, James | Loyden, Eddie | Spriggs, Leslie |
| Dormand, J. D. | Lyon, Alexander (York) | Stallard, A. W. |
| Duffy, A. E. P. | Lyons, Edward (Bradford W) | Stewart, Donald (Western Isles) |
| Dunn, James A. | McCartney, Hugh | Stoddart, David |
| Dunnett, Jack | MacCormick, lain | Stott, Roger |
| Dunwoody, Mrs Gwyneth | McElhone, Frank | Strang, Gavin |
| Edelman, Maurice | MacFarquhar, Roderick | Strauss, Rt Hon G. R. |
| Edge, Geoff | McGuire, Michael (Ince) | Taylor, Mrs Ann (Bolton W) |
| Ellis, Tom (Wrexham) | Mackenzie, Gregor | Thomas, Mike (Newcastle E) |
| English, Michael | McMillan, Tom (Glasgow C) | Thomas, Ron (Bristol NW) |
| Evans, loan (Aberdare) | McNamara, Kevin | Thompson, George |
| Evans, John (Newton) | Madden, Max | Thome, Stan (Preston South) |
| Ewing, Harry (Stirling) | Marks, Kenneth | Tinn, James |
| Fernyhough, Rt Hon E. | Marquand, David | Tomlinson, John |
| Fitch, Alan (Wigan) | Marshall, Dr Edmund (Goole) | Torney, Tom |
| Flannery, Martin | Marshall, Jim (Leicester S) | Urwin, T. W. |
| Varley, Rt Hon Eric G. | Williams, Alan (Swansea W) | Woodall, Alec |
| Wainwright, Edwin (Dearne V) | Williams, Alan Lee (Hornch'ch) | Woof, Robert |
| Ward, Michael | Williams, Rt Hon Shirley (Hertford) | Wrigglesworth, Ian |
| Watkinson, John | Williams, W. T. (Warrington) | Young, David (Bolton E) |
| Watt, Hamish | Wilson, Alexander (Hamilton) | |
| Weitzman, David | Wilson, Gordon (Dundee E) | TELLERS FOR THE AYES |
| Welsh, Andrew | Wilson, William (Coventry SE) | Mr. John Ellis and |
| White, Frank R. (Bury) | Wise, Mrs Audrey | Mr. Joseph Harper |
| Whitlock, William | ||
| NOES | ||
| Beith, A. J. | Kilfedder, James | Winterton, Nicholas |
| Freud, Clement | Pardoe, John | |
| Grimond, Rt Hon J. | Penhaligon, David | TELLERS FOR THE NOES |
| Hooson, Emlyn | Ross, Stephen (Isle of Wight) | Mr. Cyril Smith and |
| Howells, Geraint (Cardigan) | Thorpe, Rt Hon Jeremy (N Devon) | Mr. David Steel. |
| Johnston, Russell (Inverness) | Wainwright, Richard (Colne V) |
§ Question accordingly agreed to.
§ MR. SPEAKER then proceeded to put the Questions necessary for the disposal of the Business to be concluded at Eleven o'clock.
§ Mr. SpeakerTo save time I propose to put the Question on blocks of amendments. I shall single out any amendments on which any hon. Member wishes to have a Division.
§ Mr. Cyril SmithOn a point of order, Mr. Speaker, I request a Division on each amendment.
§ Mr. SpeakerThis is a situation in which we must try to govern ourselves with good temper and common sense. I have about 20 amendments to put. I am willing to allow Divisions on certain of them, if that is wished. I am not prepared to allow Divisions on all 20 amendments.
§ Mr. Emlyn Hooson (Montgomery)Further to that point of order. Is not a precise precedent for this provided by the Industrial Relations Bill which came to this House three years ago, when there was a vote on every amendment?
§ Mr. Dennis Skinner (Bolsover)I think you will recall, Mr. Speaker, that in 1971 there was a precedent which was to some extent similar to the situation which has developed today. Following the announcement of the clear intention of the Liberals to call Divisions on every amendment, I would point out that Mr. Speaker has it in his power under Standing Order 36 to rule on unnecessarily claimed Divisions, to take appropriate action and to call votes in the Chamber.
§ Mr. SpeakerI am always grateful to the hon. Member for Bolsover (Mr. 1364 Skinner) when he recalls my powers, which I shall use as appropriate.
Seriously—I was not referring to the points of order which have been raised—the House surely wants to get on to the debate on what is a serious matter. There may come a time when the Chair must consider the question of a Closure on that matter. The more time we spend on this, the sooner the Closure may be given. That, of course, is not a threat. That is an observation thrown out.
§ Mr. Cyril Smith rose—
§ Mr. SpeakerWe shall take Amendments Nos. 54 and 55 together.
§ Mr. Cyril SmithOn a point of order, Mr. Speaker. I request that Divisions take place on the following amendments: Nos. 55, 57, 58, 72, 74 and 75—a total of six out of the 20.
§ Mr. SpeakerI think that we might begin and see how we get on. That is my hope.