Part of Finance Bill – in a Public Bill Committee at 4:45 pm on 30 June 2005.
Dawn Primarolo
Paymaster General (HM Treasury)
4:45,
30 June 2005
None of the hon. Gentleman's questions are relevant to the Clause. It simply provides that if, following consultation in Northern Ireland, the decision is taken to transfer to a wholly owned Government company, the transfer of the assets will be dealt with in the same way as transfers to new companies that are wholly owned by a Department. The legislation, the consultation and therefore the change is a matter for the Northern Ireland Office. The legislation, as requested by that Department, makes sure that if a wholly owned Department company is created, there are no tax consequences, which is normal practice.
A parliamentary bill is divided into sections called clauses.
Printed in the margin next to each clause is a brief explanatory `side-note' giving details of what the effect of the clause will be.
During the committee stage of a bill, MPs examine these clauses in detail and may introduce new clauses of their own or table amendments to the existing clauses.
When a bill becomes an Act of Parliament, clauses become known as sections.
A parliamentary bill is divided into sections called clauses.
Printed in the margin next to each clause is a brief explanatory `side-note' giving details of what the effect of the clause will be.
During the committee stage of a bill, MPs examine these clauses in detail and may introduce new clauses of their own or table amendments to the existing clauses.
When a bill becomes an Act of Parliament, clauses become known as sections.
