Clause 29 - Information powers in
Enterprise Bill
5:00 pm
Mr Jonathan Djanogly (Huntingdon, Conservative)
This clause deals with the provision of information on a proposed investigation relating to a completed merger. The clause is worded as one would expect. However, in previous debates, such as those on the new cartel and criminalisation provisions, my hon. Friends and I and others commenting on the Bill, in particular the Confederation of British Industry, have consistently raised fears about the fact that the nature of the OFT will change. Instead of being just an investigator, it will now be an investigator and prosecutor. As a result, companies, in general, may be less willing to supply information about themselves and their markets.
Of course, this clause states that companies have to provide information, but the Minister will surely appreciate that in the normal course of the OFT's running, the effective provision of information in investigations to a large extent works on the basis of mutual respect between business and the OFT and on everyone's desire to deal with the situation as swiftly as possible, usually so that the deal in hand can be done. The clause may make that process more formal and legalistic, which might increase costs and slow down the process. What comfort can the Minister give to business that, with all the extra sticks in the Bill, companies will not feel threatened, or be inhibited in the way that I have described, in the provision of information as envisaged by the clause?