Clause 7 - Trading and other transfer of landfill allowances

Part of Waste and Emissions Trading Bill [Lords] – in a Public Bill Committee at 9:00 am on 8th April 2003.

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Photo of Michael Meacher Michael Meacher Minister (Department for Environment, Food and Rural Affairs) (Environment) 9:00 am, 8th April 2003

Yes, there will be a requirement to be licensed as a broker in order to perform this particular role. There will be clear rules of engagement, which will be covered in regulations.

The hon. Member for Mid-Bedfordshire (Mr. Sayeed) asked me about profit, but I cannot possibly say what the profit might be in any particular contract. It would depend on the individual arrangements between the broker and the WDA. I repeat, however, that it will be a matter for the authority, and if an authority does not want to be involved with the associated bureaucracy and expense and thinks that it can do the job perfectly well itself, I am sure that it will not engage a broker. That seems to be perfectly satisfactory.