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 Christopher Chope Christopher Chope Shadow Spokesperson (Transport) 12:15 pm, 13th February 2002

The Minister has now added to the technical objections to the drafting the old chestnut of prematurity. As the Government went out to consultation in 1998 on the subject and raised expectations among industrial and provident societies that something would be done, let us hope that the performance and innovation unit report is not long delayed and that, when it is published, it will lead to a speedy resolution of these issues. The hon. Member for Edmonton concentrates our minds on substantive changes that need to be made, rather than just the theoretical stuff that we were discussing on the previous new clause. I do not know what he is going to do with his new clauses. If the Minister is unwilling to amend them and make them suitable for incorporation

in the Bill, all the hon. Gentleman can do is hope that the performance and innovation unit will come up with the goods sooner rather than later.