TRANSFER OF PUBLICLY OWNED PROPERY TO BOARD (Hansard, 22 October 1975)

§ Mr. Kaufman
I beg to move, That this House doth agree with the Lords in the said amendment.

§ Mr. Speaker
With this amendment we are taking Lords Amendment No. 20.

§ Mr. Kaufman
Hon. Members will recall that on Report in this House, following representations in Committee, the Government tabled an amendment providing for the details of the transfer of publicly-owned property worth more than £1 million to the Board to be reported to Parliament. This further amendment was subsequently put down in another place to cover an eventuality which had not been foreseen when the Bill was before this House.
It is possible that some of the publicly-owned shareholdings will be transferred to the Board before the Government, after consultation with the Board, have determined the capital debt to be assumed by the Board as a result of the transfer. It is clearly desirable that the Board's expertise should be brought to bear on the Government shareholdings as soon as possible, but the valuation of shareholdings, particularly when they are not publicly quoted, can be a complicated and time-consuming business.
With the Bill as it left the House the Secretary of State could have deferred his statement to Parliament until the consideration for the transfer had been determined. The Government feel that Parliament is entitled to know about the transaction without such delay, so the amendment provides for Parliament to be informed of everything other than the 622 consideration, and for the consideration to be reported later.