Lord Palmer of Childs Hill:

Tabled by Lord Palmer of Childs Hill

2: Clause 1, page 1, line 7, after “was” insert “materially”Member's explanatory statementThe inclusion of the word “materially” would raise the threshold that would need to be met before a decision was deemed to be in breach of this prohibition.

My amendment was of a probing nature. I am grateful to the Minister for giving more detail. As we go forward with the Bill, I shall be particularly interested to see how “materially”—the word that I tried to add—is looked at in terms of local authority pension funds. That worries me, because they make their investment decisions. There needs to be a material point, otherwise those investment decisions can be upset very easily by the Bill.

Amendment 2 not moved.