§ That this House takes note of European Union Document No. 12846/02, draft Directive on Takeover Bids, and the unnumbered Explanatory Memorandum from the Department of Trade and Industry dated 4th March 2003 on the Council Presidency Compromise Proposal of 14th February 2003; welcomes the draft Directive as an important step forward in seeking to complete the European Union Financial Services Action Plan; and supports the Government's initial approach to negotiations in seeking to achieve a common framework for the treatment of shareholders and encouraging a single market for corporate control.—[Mr. Jim Murphy.]
§ Question agreed to.