§ Sir David PriceTo ask the Chancellor of the Duchy of Lancaster what changes will be necessary in United Kingdom company legislation in order to satisfy the harmonisation requirements of the European Community for the achievement of the single market in 1992.
§ Mr. MaudeThe European Community has been working for many years on a series of proposals from the Commission for harmonising company law. The first, second, third, fourth and sixth company law directives have been agreed by the Council of Ministers and implemented in United Kingdom legislation. Agreement has also been reached by the Council of Ministers on the seventh directive on consolidated accounts, the eight directive on qualification of auditors and the regulation for a European economic interest grouping; proposals for relevant changes in United Kingdom company legislation necessary to implement these will be brought forward at the earliest opportunity. A further seven proposals on company legislation were included in the Commission's 1985 White Paper "Completing the Internal Market" but the Government do not consider them all to be necessary for achievement of the single market by 1992. Negotiations have not been completed on any of these—indeed the Commission has not yet published all of its proposals. It is therefore not possible to say at this stage what legislative changes might be necessary if any of these was adopted.
§ Mr. Ieuan Wyn JonesTo ask the Chancellor of the Duchy of Lancaster what research has been undertaken by his Department into the effects of the completion of the single European market in 1992 on the economies of the regions of the United Kingdom.
§ Mr. Maude[holding answer 27 May 1988]: I refer the hon. Member to the answer I gave to the hon. Member for Meirionnydd Nant Conwy (Dr. Thomas) on 13 April at column 159.