New Clause 3 - Indemnity
Social Security Contributions
12:15 pm
Mr Stephen Timms (Financial Secretary, HM Treasury; East Ham, Labour)
The hon. Gentleman has a point.
There is no compulsion in the Bill. We are offering companies a simple and practical solution to a legitimate concern that they raised with us. A company choosing to settle on its share price on 7 November will obtain certainty, which is perceived by many companies to be an important benefit. To suggest that any part of the legislation is ``discriminatory'' would be to stretch the word beyond its natural meaning. If the Bill did contravene anyone's human rights, which I am confident that it does not, it would be wrong to deny that person any remedy that the 1998 Act may provide. With that in mind, I hope that the hon. Member for Arundel and South Downs will withdraw the motion.