§
Motion made, and Question put forthwith pursuant to Standing Order No. 102(5) (Standing Committees on European Community documents),
That this House takes note of European Community Document No. 6459/90, on obstacles to takeovers and other general bids and of the proposals described in the un-numbered Explanatory Memorandum submitted by the Department of Trade and Industry on 8th March 1990 and the Supplementary Explanatory Memorandum submitted by the Department of Trade and Industry on 4th June 1990 for a Fifth Directive on public limited companies; and, while endorsing the Commission's decision to bring forward proposals to eliminate barriers to takeovers as an important step in the completion of the internal market, regrets that the overall effect of the Fifth Directive in its present form would be to create significant and undesirable burdens for business.—[Mr. John M. Taylor.]
§ Question agreed to.