§ Mr. Heathcoat-AmoryTo ask the Secretary of State for Trade and Industry if he will make a statement on the progress of the 13th company law directive concerning takeover bids. [101605]
§ Mr. ByersPolitical agreement was reached on the proposed 13th Company Law Directive at the Internal Market Council in June this year, with the exception of one point, a Spanish objection concerning the application of the directive to Gibraltar. Since then Her Majesty's Government and the Government of Spain have been negotiating a solution to this question.