93 Page 47, line 8, leave out subsections (2) to (4) and insert—
'(2) The regulations may impose such obligations as the Secretary of State thinks fit —
(3) The regulations may include provision —
(4) The regulations may make different provision in relation to different descriptions of information and may contain such other supplementary and incidental provisions as the Secretary of State thinks fit.
(5) Regulations under this section shall be made by statutory instrument which shall be subject to annulment in pursuance of a resolution of either House of Parliament.
(6) The obligations imposed by regulations under this section on such persons as are mentioned in subsection (2)(a) or (c) are enforceable on the application of the Secretary of State by injunction or, in Scotland, by an order under section 45 of the Court of Session Act 1988.'.
§ Moved, That the House do agree with the Commons in the said amendment. —(Lord Trefgarne.)
§ Lord Williams of Elvel
My Lords, will the noble Lord first answer the question that I asked about the name of registered auditors? He did not answer it. I asked a question when we were discussing the last group of amendments. It was whether the name "registered auditors" was required by the directive or whether it was a matter that the Government had put in.
624 I find Amendment No. 93 gives governments enormous powers. I know that the Government are intent on regulating everything. But I cannot understand why the Government should produce an amendment which allows the Secretary of State under negative procedure to impose obligations as he thinks fit,on recognised supervisory bodies, on persons eligible for appointment as company auditor, on any person with whom arrangements are made",and so on. I find the procedure another cop out.
I am speaking to Amendment No. 93. However, I should perhaps have waited until the noble Lord the Deputy Speaker had asked me to speak to Amendment No. 93A.
§ 7.15 p.m.