Clause 3

Part of Debt Relief (Developing Countries) Bill – in a Public Bill Committee at 10:30 am on 9th March 2010.

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Photo of David Gauke David Gauke Shadow Minister (Treasury) 10:30 am, 9th March 2010

I do not disagree with the hon. Gentleman. To be fair, the word “retrospective” is used in the explanatory notes. I do not think there is an argument that the provision is explicitly designed to be retrospective —for the reasons we debated, and rightly so. I do not disagree with his point that the situation is the equivalent of an insolvency arrangement.