Thursday, 12 June 1986
The House met at half-past Two o'clock
[MR. SPEAKER in the Chair]
Orders for Second reading read.
Order read for resuming adjourned debate on Question [18 February], That the Bill be now read a Second time.
asked the Minister of Agriculture, Fisheries and Food if he will make a statement on the takeover bids for S. and W. Berisford and the likely effect on British sugar beet growers.
asked the Minister of Agriculture, Fisheries and Food what consideration Her Majesty's Government are giving to agricultural set-aside schemes.
asked the Minister of Agriculture, Fisheries and Food what is his latest estimate of the likely effect of the European Community agriculture price agreement on the European Economic Community budget.
asked the Minister of Agriculture, Fisheries and Food if he will make a statement on his policy towards the slaughter of horses and ponies for the purpose of carcase exports.
asked the Minister of Agriculture, Fisheries and Food if he is satisfied with current measures to reduce European Economic Community food surpluses.
asked the Minister of Agriculture, Fisheries and Food what was the total sum spent by the European Economic Community on the storage and disposal of food and wine surpluses in the most recent...
asked the Minister of Agriculture, Fisheries and Food what recent representations he has received about reform of the common agricultural policy.
asked the Minister of Agriculture, Fisheries and Food whether the Department is considering the publication of a White Paper on the future of agricultural land use.
asked the Minister of Agriculture, Fisheries and Food what recent discussions he has held with the president of the National Farmers Union regarding a set-aside scheme for dealing with...
asked the Minister of Agriculture, Fisheries and Food what is the total amount and value of surplus food stocks (a) in the United Kingdom and (b) in the entire European Economic Community.
asked the Minister of Agriculture, Fisheries and Food what estimate his Department has made of the effect of the new article 100A of the Treaty of Rome on the interests of the food and drink...
asked the Minister of Agriculture, Fisheries and Food when he intends to publish the outcome of his Department's study into freezer vessel licences for pelagic fishing.
asked the Prime Minister if she will list her official engagements for Thursday 12 June.
May I ask the Leader of the House whether he will state the business for next week?
With permission, Mr. Speaker, I wish to make a statement about the Northern Ireland Assembly. Under the Northern Ireland Act 1982 the present Assembly has two functions. The first is to consider...
As the House is aware, when the Government feel unable to make a statement on a matter of national importance and urgency, hon. Members have the right to apply for a private notice question. This...
Members successful in the ballot were:Mr. Kenneth CarlisleMr. Robert Kilroy-SilkMr. Robert McCrindle
Mr. Secretary Ridley, supported by Mr. Secretary Edwards, Mr. William Waldegrave and Mr. Norman Lamont, presented a Bill to validate certain block grant determinations already approved by the...
As amended (in the Standing Committee), further considered.
'(1) Proceedings arising out of any act or omission (or proposed act or omission) of a designated agency, transferee body or the competent authority in the discharge or purported discharge of any...
'As respects debentures which, under the terms of issue, must be repaid within less than one year of the date of issue— (a) section 79(2) of the Companies Act 1985 (offer of debentures of...
'The enactments mentioned in Schedule [Disclosure of information] to this Act shall have effect with the amendments there specified (which relate to the circumstances in which information...
'(1) If any person — (a) refuses to comply with any request under subsection (3) of section 147 above; or(b) refuses to answer any question put to him by the inspectors appointed under that...
'(1) The Secretary of State shall keep a register of individuals who appear to him to be employed or proposing to become employed in connection with buying, selling or advising on:— (a)...
'(1) The Secretary of State shall supervise the functions of the Takeover Panel in formulating publishing and applying the rules of the Takeover Code, and shall himself have power to make, modify...
I beg to move amendment No. 2. in page 2, line 3, leave out from 'Schedule' to 'shall' in line 9 and insert 'and is not excluded by Part III of that Schedule. (3) For the purposes of this Act a...
Amendments made: No. 3, in page 130, line 14, at end insert ', industrial and provident societies or credit unions'.
22A. —(1) Paragraph 12 above does not apply to any transaction by a person not falling within section 1(3)(a) of this Act ("an overseas person") with or through — (a) an authorised...
22B. — (1) Paragraph 12 above does not apply to any transaction entered into by an overseas person as principal with, or as agent for, a person in the United Kingdom, paragraphs 13, 14 and...
Amendments made: No. 27, in page 4, line 33, after 'injunction', insert 'or, in Scotland, an interdict'.
Amendments made: No. 32, in page 137, line 32, after 'agency', insert 'a transferee body'.
Amendment made: No. 34, in page 8, line 14, leave out 'of its obligations under this Act'; and insert 'obligation to which it is subject by virtue of this Act'—[Mr. Howard.]
Amendments made: No. 35, in page 9. line 24, at beginning insert '(a)'.
I beg to move Government amendment No. 39, in page 10, leave out lines 13 to 45 and insert— '14—(l) The Secretary of State may make regulations requiring a recognised organisation to...
Amendment 'made: No. 43, in page 13, line 15, leave out 'of its obligations under this Act' and insert— 'obligation to which it is subject by virtue of this Act.'—[Mr. Howard.]
Amendment made: No. 44, in page 14, line 4, leave out from 'offence' to end of line 7. —[Mr. Howard]
Amendments made: No. 45, in page 14, line 21, after 'registered', insert 'within the meaning of that Act'.
Amendments made: No. 48, in page 15, line 2, after 'operator', insert 'or trustee'.
I beg to move amendment No. 50, in page 16, line 5, at beginning insert 'Subject to subsection (2A) below,'.
I beg to move amendment No. 53, in page 19, line 13, after 'question', insert '(a)'.
Amendments made: No. 55, in page 19, line 20, after 'unless,' insert 'not less than seven days'.
Amendments made: No. 57, in page 23, line 17, leave out 'of its obligations under this Act' and insert— 'obligation to which it is subject by virtue of this Act'.
Amendments made: No. 59, in page 24, leave out line 42 and insert— 'obligation to which it is subject by virtue of this Act:'.
Amendments made: No. 61, in page 25, line 9, after '39' insert — '(lA) The Secretary of State may make regulations requiring a recognised investment exchange or recognised clearing house to...
I beg to move amendment No. 63, in page 25, line 28, leave out clause 40. In Committee we had a thorough debate on whether Lloyd's should be within the Bill. I have no intention of rehearsing...
Amendments made: No. 64, in page 25, line 33, leave out 'exempt' and insert 'appointed'.
Amendments made: No. 72, in page 27, line 7, at end insert— '(cc) the Accountant of Court when acting in the exercise of his functions in connection with the consignation or deposite of...
Amendment made: No. 75, in page 28, line 27, at end insert — '(2A) In proceedings brought against any person for an offence under subsection (2) above it shall be a defence for him to prove...
Amendment made: No. 76, in page 29, line 32, leave out 'exempt' and insert 'appointed'. —[Mr. Howard.]
Amendment proposed: No. 77, in page 31, line 25, after '(2)', insert 'Without prejudice to the generality of subsection (1) above,'.
Amendments made: No. 78, in page 34, line 1 leave out 'Regulations under this section may in particular' and insert'Without prejudice to the generality of subsection (1) above, regulations under...
Amendments made: No. 84, in page 35, line 34, leave out 'exempt' and insert 'appointed'
Amendment made: No. 86, in page 40, line 35, leave out 'exempt' and insert 'appointed' —[Mr. Howard.]
Amendment made: No. 87, in page 41, line 21, at end insert — '(5) Where a case is not required to be referred to the Tribunal by a person on whom a notice is served under this section the...
Amendments made:No 88, in page 42, line 1, after `injunction', insert 'or, in Scotland, an interdict'.
Amendment made,No. 93, in page 46, line 39, at end insert— '; and any such notice may, if the Secretary of State thinks fit, include a statement of the reasons for which the prohibition or...
Amendments made: No. 94, in page 47, line 37, leave out from 'provide' to 'for' in line 38.
Amendments made: No. 102, in page 49, line 25, after 'issued', insert 'in the United Kingdom'.
Amendment made: No. 109, in page 50, line 19, leave out subsection (3).
Amendments made: No. 110, in page 50, line 35, leave out 'and a copy of the trust deed'.
Amendment made: No. 118, in page 51, line 37, at end insert 'or potential participants'. —[Mr. Howard.]
Amendment made: No. 119, in page 52, line 25, after 'give', insert— 'the applicants or, as the case may be'.—[Mr. Howard.]
Amendments made: No. 120, in page 52, line 41, after 'rights', insert 'and obligations'.
Amendments made: No. 124 in page 53, line 30, after `alteration', insert involving a change in the trust deed'.
Amendments made: No. 127, in page 54, line 22, leave out from '(ii)' to 'body' in line 25 and insert 'an open-ended investment company or any other'.
Amendments made: No. 130, in page 57, line 16, leave out from 'is' to end of line 18 and insert 'of a class specified by the order.'.
Amendments made: No. 133, in page 58, line 9, leave out paragraph (b) and insert '(b) does not satisfy the requirements mentioned in section 78(1) above and in relation to which there is no...
Amendment proposed: No. 144, in page 59, line 26, after `operator', insert `or trustee'. —[Mr. Howard.]
Amendments made: No. 149, in page 140, line 1, leave out 'and' and insert— ', for the awarding of costs (or, in Scotland, expenses) and for'.
Amendments made: No. 151, in page 61, line 23, leave out 'or 54(4)' and insert',54(4) or 55(2)'.
Amendments made: No. 158, in page 63, line 27, leave out from 'under' to end of line 30 and insert 'any of the provisions mentioned in subsection (1)(a) of section 84 if he— (a) decides as...
Amendment made: No. 160, in page 65, line 12, leave out third 'the' and insert `any'. —[Mr. Howard.]
Amendment made: No. 161, in page 67, line 29, leave out 'this section' and insert 'subsection (1) above'. —[Mr. Howard.]
Amendments made: No. 162, in page 67, line 41, leave out 'exempt' and insert 'appointed'.
Amendment proposed: No. 165, in page 71, line 41, leave out 'the Securities and Investment Board' and insert 'a body corporate has been established which'. — [Mr. Howard.]
I beg to move, in page 143, line 17, at end insert— 'including information as to any commissions or other inducements received or receivable from a third party in connection with any such...
Ordered,That, at this day's sitting, the Financial Services Bill may he proceeded with, though opposed, until any hour. —[Mr. Durant.]
As amended (in the Standing Committee), again considered.
Amendments made: No. 175, in page 144, leave out lines 28 to 33.
I beg to move amendment No. 184, in page 74, line 32, at end insert '; and every delegation order in respect of a designated agency shall cease to have effect at the end of the period of 28 days...
Amendment made: No. 185, in page 78, line 4, leave out from beginning to 'in' in line 3 and insert 'subsection (3) of section 101 above he may, notwithstanding the delegation order, himself...
Amendments made: No. 186, in page 79, leave out lines 31 to 35 and insert 'the matter specified in the notice of which a copy is sent to him under subsection (3) above'.
Amendment made: No. 189, in page 83, line 21, after '109', insert— '(1A) Before the Secretary of State exercises a power under section 101(3)(b) or (c) above, his power to refuse leave...
Amendment made: No. 190, in page 147, leave out lines 2 and 3 and insert— `2 —(1) An insurance company to which section 21 of this Act applies shall not he an authorised person except...
Amendments made: No. 194, in page 151, line 27, leave out from beginning to end of line 14 on page 152 and insert —
Preliminary
No. 195, in page 152, line 17, after second 'in', insert 'this Part of.
No. 213, in page 157, line 23, at end insert— '(1A) The body to which functions are transferred by the first order made under sub-paragraph (1) above shall be the body known as the...
26A. In the case of an application for authorisation under section 25 of this Act made by a society which is registered under the Friendly Societies Act 1974 within the meaning of that Act or is...
Amendments made: No. 229, in page 90, line 35, after 'societies', insert ',industrial and provident societies or credit unions'.
Amendment made: No. 231, page 199, line 7, after `evidence' insert: `or, in Scotland, sufficient evidence'. —[Mr. Howard.]
Amendment made: No. 232, in page 99, line 15, leave out clause 130. —[Mr. Howard.]
Amendments made: No. 233, in page 162, line 34, leave out 'the announcement of.
Amendments made: No. 244, in page 109, line 28, leave out 'books or'. —
Amendments made: No. 246, in page 112, line 16, leave out 'under' and `arising under or by virtue of.
Amendment made: No. 251, in page 114, line 37, leave out Clause 151. —[Mr. Howard.]
Amendment made: No. 252, in page 120, line 27, at end insert '; and an interest of such a person in shares is an exempt interest if he carries on business as a market maker in the United Kingdom,...
Amendment made: No. 253, in page 122, line 1, leave out Clause 157.1. —[Mr. Howard]
Amendments made: No. 254, in page 122, line 5. after '114', insert 'or (Banking business)'.
Amendments made: No. 259, in page 125, line 12, at end insert— '"appointed representative" has the meaning given in section 41 above;'.
Amendment made: No. 269, in page 128, line 39, leave out from 'and' to end of line 40 and insert 'any fees received under this Act by the Registrar of Friendly Societies for Northern Ireland...
Amendment made: No. 270, in page 129, line 3, at end insert `(2) Subsection (1) above does not apply to section (Offers of short-dated debentures) which shall come into force when this Act is...
Amendment made: No. 271, in page 172, line 11, at end insert —
Amendment made: No. 272, in page 173, line 3, leave out 'E' and insert 'F'. —[Mr. Howard.]
1. Any proceedings with respect to a decision or proposed decision of the Secretary of State or a designated agency— (a) refusing, withdrawing or suspending an authorisation;(b) refusing an...
Person pulling question Individual to whom question relates 1. The Secretary of State or a designated agency. (a) An authorised person. (b) An applicant for authorisation under section 25 of...
Person taking action Exempted action 1. The Secretary of State, a designated agency, a recognised self-regulating organisation, a recognised professional body or the competent authority. Any...
1. In Part I of this Schedule proceedings- includes any proceedings within the meaning of section 4 of the Rehabilitation of Offenders Act 1974.
1. In section 133(2)(a) of the Pair Trading Act 1973 after the words "the Telecommunications Act 1984" there shall be inserted the words "or Chapter XII of Part I of the Financial Services Act 1986".
Amendments made:: No. 275, in page 175, line 30, at end insert— 'Section 433(2) Section 446(5).'.
Amendment made: No. 278, in page 1, line 6, after 'dealing', insert 'to make provision as to the disclosure of information obtained under enactments relating to fair trading, companies and...
Queen's Consent, on behalf of the Crown, having been signified.
Motion made, and Question proposed, That this House do now adjourn.—[Mr. Archie Hamilton.]
Debates in the House of Commons are an opportunity for MPs from all parties to scrutinise government legislation and raise important local, national or topical issues.
And sometimes to shout at each other.
