Clause 7 - Shadow directors
Horserace Betting and Olympic Lottery Bill
Public Bill Committees, 20 January 2004, 2:30 pm
Mr Richard Caborn (Minister of State (Sport and Tourism), Department for Culture, Media & Sport; Sheffield Central, Labour)
The clause provides that neither the Secretary of State nor the Treasury shall be treated as shadow directors of the Tote's successor. The effect is to exempt the Secretary of State and the Treasury from the controls and obligations that are incumbent on the shadow directors, such as those relating to wrongful trading. The role of Government is only to facilitate the sale in line with policy; it is not to become involved in the operation of the Tote's business. It is therefore appropriate that the Secretary of State and the Treasury should not be treated as shadow directors simply by virtue of their role in facilitating the sale. The clause ensures that.
Question put and agreed to.
Clause 7 ordered to stand part of the Bill.