HC Deb 13 July 1988 vol 137 c376

Motion made, and Question proposed,

That provision may be made in connection with transfers in accordance with section 97 and the other applicable provisions (within the meaning of that section) of the Building Societies Act 1986.—[Mr. Peter Lilley.]

4.17 pm
Mr. Chris Smith (Islington, South and Finsbury)

I shall not detain the House for more than a moment, but it is worth placing on record at this stage, as we did during the Committee proceedings, the fact that the Opposition are deeply unhappy at the prospect of mutual building societies converting to plcs. We believe that much that is good about the building society movement will be lost if that occurs. However, this resolution relates specifically to the possibility that later in today's proceedings we shall have an opportunity to debate Government amendment No. 75, which enshrines a principle for which we argued in Committee. We are grateful to the Government for taking that issue on board. It would be churlish of us to do anything other than wish godspeed to this resolution.

Question put and agreed to.