HL Deb 23 July 1973 vol 344 cc1560-1

[Nos. 6 to 8]

Clause 3, page 4, line 22, leave out "is terminated" and insert "comes to an end"

Clause 3, page 4, line 24, leave out "or terminating"

Clause 3, page 4, line 27, leave out "concerned" and insert "appointed; and if an appointment under that subsection comes to an end the company shall within fourteen days serve on the Secretary of State a written notice stating that fact and the name of the person concerned."


My Lords, I beg to move that this House doth agree with the Commons in their Amendment No. 6, with which, with the leave of the House, we might consider Amendments 7 and 8. Subsections (5) and (6) of Clause 3 formalise the position of the actuary responsible for the investigation of a company's long-term business, who may be an employee, a consultant or a firm of consultants. The word "terminate" in the present tense does not cover the situation where the cessation of the actuary's appointment results from his resignation rather than from action on the part of the company. The combined effect of these three Amendments is to rectify that anomaly so that the necessity for a company to make a fresh appointment (subsection (5)) and to notify the Secretary of State of the cessation of the previous appointment (subsection (6)) is clearly laid upon the company, however that cessation arose.

Moved, That this House doth agree with the Commons in the said Amendments.—(The Earl of Limerick.)