HL Deb 24 July 1985 vol 466 c1276

5 After Clause 1, insert the following new clause:

("Share holdings for deposit holders and employees.

. From the vesting day 25 per cent. of the shares in the TSB Group shall be held in trust for holders of deposits in the TSB Group and employees of the TSB Group, the trustees being elected annually in equal numbers by appropriate Associations of both groups.").

The Commons disagreed to the above amendment for the following Reason:

6 Because the amendment is contrary to a major element of the policy behind the Bill, which is to enable the TSB Group to achieve as wide a distribution of direct shareholding as possible among depositors and other small investors.