Clause 63 - Demutualisation of insurance company

Part of Finance Bill – in a Public Bill Committee at 10:15 am on 10 June 2003.

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Photo of Adam Price Adam Price Plaid Cymru, Carmarthen East and Dinefwr 10:15, 10 June 2003

I, too, recognise your guidance, Mr. McWilliam, but I want to put on the record my belief that the clause removes an impediment to carpetbaggers who want to initiate another vote on Standard Life. With the appalling record of demutualisation and the effect on policyholders* why is the clause in the Bill?