§ [No. 5]
§
Clause 1, page 2, line 16, at end insert—
("(3B) The Agency may only exercise functions under subsection (3)(c) above through subsidiaries.")
§ Lord LOVELL-DAVISMy Lords, I beg to move that this House doth agree with the Commons in their Amendment No. 5. In fulfilling its industrial investment role, the Agency will operate in exactly the same way as any other company which is starting up or running a business. They will have no compulsory powers; no special privileges. It was desirable and appropriate to put some more words into the Bill which would clarify the Government's intentions on this point.
§ Moved, That this House doth agree with the Commons in the said Amendment.—(Lord Lovell-Davis.)
§ On Question, Motion agreed to.