HC Deb 11 November 1997 vol 300 c810

Lords amendment: No. 1, in page 1, line 19, after ("financier") insert (", or any insurer of or trustee for the financier,")

10.14 pm
The Minister for Local Government and Housing (Ms Hilary Armstrong)

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

Mr. Deputy Speaker (Mr. Michael Lord)

With this, it will be convenient to discuss also Lords amendment No. 9.

Ms Armstrong

Clause 1(2) provides that a local authority may make arrangements with financiers for step-in rights; that is, rights to intervene where the contractor is unable to meet his obligations to the authority or to the financier. The amendment provides that these arrangements can also involve—[Interruption.]

Mr. Deputy Speaker

Order. I ask hon. Members to leave the House quickly and quietly if they are not taking part in the debate.

Ms Armstrong

The amendment provides that these arrangements can also involve financiers' insurers or trustees. Amendment No. 9 amends clause 4 of the Bill to provide that a contract between a local authority and a financier's insurer or trustee may be a certified contract and thus may have the protection of clause 2 (1) of the Bill. That is the "safe harbour" provision.

Lords amendment agreed to.

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