HC Deb 14 February 1979 vol 962 cc1257-8
Mr. Denzil Davies

I beg to move amendment No. 34, in page 62, line 22, leave out 'not more than'.

This amendment has the effect of requiring the Governor of the Bank of England to appoint three members from contributory institutions to the deposit protection board. As the Bill is at present drafted, he could appoint only one.

Here again, I gave an undertaking to the Committee that I would amend the Bill to this effect.

Mr. John Moore

Again, I thank the Minister of State. He has met the point made in Committee by my hon. Friend the Member for Hitchin (Mr. Stewart), and I thank him for taking it so completely.

Amendment agreed to.

Mr. Denzil Davies

I beg to move amendment No. 35, in page 63, line 27, after 'unless', insert '(a)'.

Mr. Speaker

It will be convenient to consider at the same time Government amendment No. 36.

Mr. Davies

These amendments meet a point made in Committee by the hon. Member for Hitchin (Mr. Stewart) which, I believe, also has the backing of the accountancy bodies. It allows a person to be appointed as auditor by the board if he is authorised by the Secretary of State as having qualifications obtained abroad equivalent to membership of one of the bodies referred to in what will now be paragraph 4(4)(a). It meets a point raised especially in relation to American qualifications, for example. Such persons will now be covered by the amendment.

Mr. John Moore

I seem to be constantly on my feet thanking the Minister of State, and it is my pleasure to do so. Again, I thank him for taking note of the point that we made in Committee.

Amendment agreed to.

Amendment made: No. 36, in page 63, line 31, at end insert: or (b) he is for the time being authorised to be appointed as auditor of a company under section 161(1)(b) of that Act as having similar qualifications obtained outside the United Kingdom.'.—[Mr. Denzil Davies.]

Forward to