Clause 3 - Sections 1 and 2: supplemental
Horserace Betting and Olympic Lottery Bill
10:15 am
Mr Adrian Sanders (Torbay, Liberal Democrat)
I am not convinced by the amendment. It would bind the
Secretary of State to ensure that the directors of the successor company are the same people as were members of the board before the appointed day when the successor company assumes control. The freedom of the shadow racing trust—the successor body—to determine whom its directors were, or how it would carry out its management, would be removed.
My hon. Friend the Member for Bath said on Second Reading that he did not want the Secretary of State to be forced into selling the Tote to one particular buyer regardless of its offer. Perhaps I have misinterpreted the amendment.