§ [Nos. 29–32]
§ Clause 12, page 7, line 26, after ("Agency") insert ("or the Agency's nominees").
§ Clause 12, page 7, line 29, after ("Agency") insert ("or the Agency's nominees").
§ Clause 12, page 7, line 30, at end insert ("or in accordance with any general authority given by the Secretary of State.
Clause 12, page 7, line 30, at end insert—
("(4) When the Secretary of State has given a consent under subsection (2) above and the consideration for the transfer exceeds £1 million, he shall lay before each House of Parliament a statement specifying—
§ Lord LOVELL-DAVIS
My Lords, again with the leave of the House I beg to move that this House doth agree with the Commons in their Amendments Nos. 29 to 32 inclusive. These Amendments to Clause 12 are also straightforward. Again they follow Amendments to the comparable clauses in the Scottish Development Agency and Industry Bills and meet points made by noble Lords opposite. Amendments Nos. 29 and 30 are drafting Amendments of a technical nature to provide that publicly-owned securities or other publicly-owned property may be transferred to persons nominated by the Agency as well as to the Agency themselves.
Amendment No. 31 builds on the provision already in the Bill that publicly-owned property or securities can only be transferred to the Agency with the consent of the Secretary of State. But in order to prevent minor transfers each needing separate consent, this Amendment provides that a general authority giving consent for minor transfers can be given. A copy of any general consent would have to be laid before Parliament. Amendment No. 32 fulfils the undertaking given in this House that a suitable procedure for notifying Parliament of transfers of publicly-owned property would be inserted in the Bill. This ensures that Parliament will be informed of all relevant information when significant transfers take place.
§ Moved, That this House doth agree with the Commons in the said Amendments.—(Lord Lovell-Davis.)
§ On Question, Motion agreed to.