HL Deb 27 July 1981 vol 423 cc623-4

4 Clause 10, page 7, leave out lines 23 and 24 and insert— (2A) Subsection (2) above shall not have effect until the first payment into the Fund is made in pursuance of subsection (1) above. (2B) In subsection (2) above, "financial year" means a period of 12 months ending on 31st March except that the Secretary of State may direct that—

  1. (a) the first financial year for the Fund shall be of such period not exceeding two years and ending on 31st March as he may specify in the direction; and
  2. (b) where an order under subsection (5) below is made, the last financial year shall be of such period not exceeding 12 months as he may specify in the direction;
and, where a direction is given under paragraph (b) above, subsection (2) shall apply in relation to the accounts for that last financial year with the substitution for the reference to the end of the month of November of a reference to the end of the eighth month following the end of that year.".

The Earl of Gowrie

My Lords, I beg to move that the House doth agree with the Commons in their Amendment No. 4.

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

Lord Wynne-Jones

My Lords, this amendment again is one with which we do not disagree at all. I think it would be appropriate for me to say at this stage that we on this side of the House have been very appreciative of the trouble that the noble Earl has taken in dealing with this Bill all the way through. We consider that, although the Bill is a trivial Bill and is in fact an unnecessary Bill, nevertheless it is not, if properly interpreted, a thoroughly objectionable Bill. May we remind the Government that this question of the bed of the deep sea, the ocean bed, is the common heritage of mankind.

Lord Lloyd of Kilgerran

My Lords, it may be appropriate at this stage if I add my welcome to this Bill for what it is worth as a temporary measure making interim provisions pending international agreement. I support the amendment, No. 4, which has just been moved by the noble Earl, Lord Gowrie. I should like to congratulate him, if I may do so, for having skilfully piloted this interesting Bill through all its stages in this House, and thank him for his courtesy to myself throughout the Second Reading and Committee stage. I am also grateful to him for the sympathy he adopted towards one of my amendments dealing with the safety of divers and the people concerned with the mining arrangements at sea, and for bringing in on behalf of the Government an amendment which covered the theme of the amendment I had put forward from these Benches.

The Earl of Gowrie

My Lords, I am most grateful for what has been said. Even modified rapture from he noble Lord, Lord Wynne-Jones, is rapture to be welcomed. I have certainly enjoyed the Bill very much in that it has taught me quite a lot about a mysterious and exciting world which we hope will be of increasing financial relevance to all mankind.

On Question, Motion agreed to.