HL Deb 07 November 1989 vol 512 cc618-9

76 Clause 22, page 41, line 4, leave out from first 'The' to 'that' in line 5 and insert 'main purposes of this Part are to secure'.

Lord Strathclyde

My Lords, I beg to move that the House do agree with the Commons in their Amendment No. 76. At the same time I shall speak to Amendments Nos. 78, 79, 83 and 449.

These amendments adjust the boundary between matters which are subject to the special competition regime for auditing which is set up by the Bill and matters which remain subject to the general provisions of competition law. They were produced by the Government to meet concern that it was not always as clear as might be what was covered by the Bill's regime and that in some respects the coverage of the Bill's regime seemed too wide. The chief effect of the amendments is that the competition regime in the Bill will no longer cover matters which are properly dealt with under competition law generally.

Moved, That the House do agree with the Commons in the said amendment —(Lord Strathclyde).

Lord Peston

My Lords, I take it that we are right in looking at the whole group of amendments and not just at Amendment No. 76. Again, I rise simply for my own interest and enlightenment. The noble Lord did not say why Amendment No. 78 was as it is. Since I cannot work out why it is as it is, I should simply like to know what Amendment No. 78 does. I take it that it does not do anything at all but I should like to be reassured on that point.

Lord Strathclyde

My Lords, I am delighted to enlighten the noble Lord. I am sure that none of our amendments does nothing at all. This amendment is no exception. It provides that the matters with which Clause 28(1) says that a supervisory body is concerned should include the eligibility of persons for company audit work rather than the persons so eligible. Clause 28(3) provides that references to rules of a supervisory body in Part II are to be interpreted as references to rules on, among others, the matters specified in Clause 28(1), and rules on these matters therefore fall to be considered under the competition regime. However, a body may have a rule which applies in relation to a person who is eligible for appointment as a company auditor but which has no bearing on his initial or continuing eligibility, and it is only rules on this narrower front which we think are relevant to the competition regime in the Bill.

I am sure that the noble Lord, Lord Peston, will wish to reflect on my words.

On Question, Motion agreed to.