Clause 1

– in the House of Commons at 10:04 pm on 11th February 1980.

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VESTING OF PROPERTY, ETC., OF BRITISH AEROSPACE IN A COMPANY NOMINATED BY THE SECRETARY OF STATE

Amendment made: No. 5, in page 2, line 21, at end insert: '(3A) Any liability of British Aerospace under section 40(4) of the Act of 1977 shall not vest in the successor company by virtue of this section, but the Secretary of State shall be liable to indemnify the Bank of England against any loss suffered by them arising out of, or in connection with, the issue of compensation stock under Part II of that Act in respect of the vesting of any securities in British Aerospace (and any sums required by the Secretary of State for the purpose shall be paid out of moneys provided by Parliament).'.—[Mr. Michael Marshall.]