§ Mr. Deakinsasked the Secretary of State for the Environment what statutory and other Government financial controls on the activities of water authorities will cease to apply when such authorities are privatised; and if he will make a statement.
§ Mr. John PattenThe statutory framework for the privatised water authorities will be set by the legislation which the Government intend to introduce at the earliest opportunity. The Government's intention is to turn the water authorities into water service public limited companies (WSPLCs) which will be subject to the provisions of the Companies Acts. As with other privatised 503W bodies, the water authorities will not after privatisation be subject to the financial controls which apply to public sector bodies.