New Clause 1 - Application of Company Accounts and Audit Provisions to Societies

Part of Industrial and Provident Societies Bill – in a Public Bill Committee at 12:15 pm on 13th February 2002.

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Photo of Andrew Love Andrew Love Labour/Co-operative, Edmonton 12:15 pm, 13th February 2002

I thank my hon. Friend the hon. Member for Harrow, West, the hon. Member for Christchurch and the Minister for their contributions. Those who contributed have recognised the drafting difficulties and the technical complexity of some of the issues, but I am pleased there was sympathy from hon. Members on both sides of the Committee for the thrust of what is to be achieved through the new clauses.

I accept that we have not tabled, and it would take considerable time to debate properly, adequate new clauses that would reflect what we are trying to achieve. I also accept that the PIU is undertaking a review of the social enterprise sector, and that will deal with some of the issues touched on in each of the three new clauses. It may be possible to introduce changes in the future, and I believe that there must be some urgency in ensuring that they are made. I accept what the Minister says, and I beg to ask leave to withdraw the motion.

Motion and clause, by leave, withdrawn.

Bill, as amended, to be reported.

Committee rose at twenty-one minutes past Twelve o'clock.