§ Page 3, line 18, at end insert new clause:
§ Powers of subsidiaries of the Corporation
§ (".—(1) No company being a subsidiary of the Corporation shall, notwithstanding any provision of its Memorandum of Association or its charter of incorporation or other charter, carry on directly or indirectly any activities except:
- (a) activities specified in the first column of the Second Schedule to this Act;
- (b) activities which that company was in fact carrying on immediately before the general date of transfer;
- (c) activities which for technical reasons ought, in the opinion of the Minister, to be carried on by that company with a view to the better carrying on by any such company of its activities under paragraph (a) or paragraph (b) hereof and which are specified in an order of the Minister;
- (d) such other activities as shall be specified in an order of the Minister;
§ (2) A copy of any such order as aforesaid shall be delivered by the Corporation to the Registrar of Companies.
§ (3) An order made under this section shall be subject to annulment in pursuance of a resolution of either House of Parliament.")
§ Clause 2, page 3, line 26, leave out from ("any") to end of line 30, and insert ("subsidiary of the Corporation is authorised to carry on and is not by any provision of this Act prohibited from carrying on")
§ Clause 2, page 3 line 33, leave out from second ("any") to ("or") in line 35, and insert ("subsidiary of the Corporation is authorised to carry on and is not by any provision of this Act prohibited from carrying on")
§ Clause 2, page 4, line 18, leave out subsection (3) and insert—
§
("(3) The Corporation shall have power to carry on such other activities as shall have been specified in an order of the Minister, such order being subject to annulment in pursuance of a resolution of either House of Parliament.")
Clause 50, page 54, line 6, after ("by") insert ("section (Powers of subsidiaries of the Corporation), section two and")
§ The Commons disagreed to the above Amendments for the following Reason:
§ Because the Amendments would unduly restrict the powers of the Corporation and their subsidiaries and are administratively impracticable.