HL Deb 13 November 1989 vol 512 cc1132-4

336 Page 165, line 4, after 'consolidation)', insert ', and the amount of profit or loss attributable to such an interest,'.

337 Page 165, line 5, leave out 'accounts' and insert 'balance sheet or, as the case may be, in the consolidated profit and loss account'.

338 Page 165, line 31, leave out from 'matters' to end of line 12 on page 166 and insert — '(4) The provisions of paragraphs 5 to 11 of Schedule 10A (rights to be taken into account and attribution of rights) apply in determining for the purposes of this paragraph whether an undertaking holds 20 per cent. or more of the voting rights in another undertaking.'.

339 Schedule 3, page 167, line 38, leave out 'that of the company' and insert 'the end of the company's financial year'.

340 Page 167, line 45, leave out 'that of the company' and insert 'the end of the company's financial year'.

341 Page 169, line 21, at end insert — '(1A) That information need not be given if—

  1. (a) the company is exempt by virtue of section 228 from the requirement to prepare group accounts (parent company included in accounts of larger group), and
  2. (b) the investment of the company in all undertakings in which it has such a holding as is mentioned in sub-paragraph (1) is shown, in aggregate, in the notes to the accounts by way of the equity method of valuation.'.

342 Page 169, line 33, leave out 'that of the company' and insert 'the end of the company's financial year'.

343 Page 170, line 11, after 'were', insert 'at the time of the disposal'.

344 Page 171, line 9, leave out 'in'.

345 Page 171, line 23, leave out sub-paragraph (4) and insert — '(4) For the purposes of any of those provisions, shares held by way of security shall be treated as held by the person providing the security —

  1. (a) where apart from the right to exercise them for the purpose of preserving the value of the security, or of realising it, the rights attached to the shares are exercisable only in accordance with his instructions, and
  2. (b) where the shares are held in connection with the granting of loans as part of normal business activities and apart from the right to exercise them for the purpose of preserving the value of the security, or of realising it, the rights attached to the shares are execisable only in his interests.'.

346 Page 172, line 39, leave out 'that of the company' and insert 'the end of the company's financial year'.

347 Page 173, line 15, leave out 'that of the company' and insert 'the end of the company's financial year'.

348 Page 175, line 18, leave out 'that of the company' and insert 'the end of the company's financial year'.

349 Page 176, line 12, leave out 'that of the parent company' and insert 'the end of the parent company's financial year'.

350 Page 176, line 20, leave out 'company makes' and insert 'parent company made'.

351 Page 176, line 26, leave out 'consolidated' and insert 'parent company's individual and group'.

352 Page 176, line 29, leave out 'consolidated' and insert 'group'.

353 Page 176, line 32, leave out 'an undertaking included in the consolidation' and insert 'the parent company'.

354 Page 176, line 35, leave out from 'year' to 'on' in line 36.

355 Page 176, line 40, leave out from 'year' to 'on' in line 41.

356 Page 176, line 43, after 'were', insert 'at the time of the disposal'.

357 Page 178, line 5, leave out sub-paragraph (4) and insert — '(4) Shares held by way of security shall be treated as held by the person providing the security—

  1. (a) where apart from the right to exercise them for the purpose of preserving the value of the security, or of realising it, the rights attached to the shares are exercisable only in accordance with his instructions, and
  2. (b) where the shares are held in connection with the granting of loans as part of normal business activities and apart from the right to exercise them for the purpose of preserving the value of the security, or of realising it, the rights attached to the shares are exercisable only in his interests.'.

Lord Strathclyde

My Lords, I beg to move that the House do agree with the Commons in their Amendments Nos. 336 to 357.

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

On Question, Motion agreed to.