Results 41–60 of 262 for speaker:Mr Michael Welsh

International Westminster Bank Bill (By Order) (9 Nov 1989)

Mr Michael Welsh: I am grateful to my hon. Friend. The banks want to operate within the law, but I am worried about a different issue—whether the directors want to operate within the law. I have been told to limit my remarks to the amendments, which concern the directors. No one can say that directors keep within the law. If they did, there would not have been that raid this morning. Sometimes the banks need...

International Westminster Bank Bill (By Order) (9 Nov 1989)

Mr Michael Welsh: I am saying only that the fraud squad has called on some houses, as has happened in other undertakings in the City. I should like to think that all directors had clean hands, but they are raided every other day. If they were all as innocent as the men who drink in workings men's clubs, everything in the City would be lovely. As it is, the banks themselves—never mind the people—may have to...

International Westminster Bank Bill (By Order) (9 Nov 1989)

Mr Michael Welsh: I am now speaking to the amendment which says; in the opinion of the directors of the Bank. The amendment was tabled as a second thought and it may be dangerous—[Interruption.]

International Westminster Bank Bill (By Order) (9 Nov 1989)

Mr Michael Welsh: The amendment is important with regard to the directors because it is about international deals, not about deals in this country. Every hon. Member has had complaints about an overseas investment that went wrong in Gibraltar, including the hon. Member for Honiton himself. The hon. Member for Honiton may think that I am wrong, but I do not think that we should allow the chance of such events...

International Westminster Bank Bill (By Order) (9 Nov 1989)

Mr Michael Welsh: My hon. Friend is right; he has made a vital point. However, as you drew to my attention, Mr. Deputy Speaker, we must confine our remarks to the Bill and the amendments. There are many other matters that I should like to mention, and many other hon. Members would like to deal with shortcomings in undertakings outside the City, but we must stick to the amendments. I have a question about...

International Westminster Bank Bill (By Order) (9 Nov 1989)

Mr Michael Welsh: The amendment applies to line 42 of clause 5. I suspect that it seeks to give the directors powers that they do not deserve to have. The clause was written by the parliamentary draftsmen and did not come off the top of someone's head. The draftsmen must have phrased the clause in that way for good reasons. It may have been to protect investors on the day of vestment or after. Perhaps the hon....

International Westminster Bank Bill (By Order) (9 Nov 1989)

Mr Michael Welsh: Well, 1963 may have been a nice year, but it was not a very good year for me. I had an accident in a colliery after I returned from Ruskin college. I remember it very well. Another of the Lords amendments amends clause 15. It states: 'Clause 15, page 8 leave out from ("(b)") in line 33 to ("and") in line 38 and insert ("the reference in subsection (3) of Section 11 (Evidence of Vesting) of...

International Westminster Bank Bill (By Order) (9 Nov 1989)

Mr Michael Welsh: The amendment to page 8 of clause 15 is narrow, but very important. I am speaking to the amendments, but I understand the feeling of many hon. Members on both sides of the House who may be involved in these matters. I am not used to dealing with finance. I still give my wife £25 a week and spoil her like most men spoil their wives. That is as far as I go in finance. Perhaps the reason for...

International Westminster Bank Bill (By Order) (9 Nov 1989)

Mr Michael Welsh: I will stick to the amendments because that is my job. However, I always support people who want more freedom. I will follow your wishes, Mr. Deputy Speaker. Why is the 1963 Act sacrosanct? Why is nothing else allowed? Why has it been taken out? There may be good reasons for that, but as a layman I can see no good reason for its removal other than for ulterior motives. No other Act is...

International Westminster Bank Bill (By Order) (9 Nov 1989)

Mr Michael Welsh: I cannot say that the parliamentary agents are incompetent. I do not know any of those gentlemen, but I know that they are well-trained and reasonably efficient. Many of the amendments drafted by civil servants are foolish, but that is not the case with parliamentary agents. They are well paid and efficient. They may have included the amendments as a long-stop.

International Westminster Bank Bill (By Order) (9 Nov 1989)

Mr Michael Welsh: My hon. Friend may have a good point. That is a possibility, but we cannot say that it happens for sure. However, I have some sympathy with the comments of my hon. Friend the Member for Bolsover. There is an amendment to an amendment—I thought that that was impossible. Therefore, no one is too sure about this. I do not know too much about finance but I have my suspicions.

International Westminster Bank Bill (By Order) (9 Nov 1989)

Mr Michael Welsh: My hon. Friend may have a point. I do not know how parliamentary agents are paid, but their job is to work on private Bills. The sooner such Bills are abolished the better. Perhaps, as my hon. Friend said, they include things knowing they will have to amend them later. That happens with many legal people. My hon. Friend the Member for Bolsover may have a point, but we do not know. On the...

International Westminster Bank Bill (By Order) (9 Nov 1989)

Mr Michael Welsh: My hon. Friend may have a valid point, but I am describing what has happened. We have been told by the sponsors of the Bill that the words to be omitted are not necessary and do not do anything. If that is the case, why did the parliamentary agents include them?

International Westminster Bank Bill (By Order) (9 Nov 1989)

Mr Michael Welsh: If that is correct and the bank sponsors have no desire for the amendments, it is all the more reason why the Bill should be left as it is. If someone else wants the Bill amended, we should vote for the Bill as it is written. There might be good reason to leave the Bill as it is to protect people when others may not want them to be protected.

International Westminster Bank Bill (By Order) (9 Nov 1989)

Mr Michael Welsh: Further to that point of order, Mr. Deputy Speaker. A number of the amendments relate to the bank's directors. Presumably it will be possible for hon. Members to vote against amendments that relate directly to those directors. It is possible that a number of hon. Members on both sides would like to divide the House.

Isle of Wight Bill (9 Nov 1989)

Mr Michael Welsh: We sympathise with the Isle of Wight and the trouble it has had with big parties. However, no city or town should suffer such trouble. If trouble is stopped in only one area, it will be exported somewhere else unless we have a Bill which applies to the whole United Kingdom. Such a Bill would be debated fully and would put an end to all trouble throughout the United Kingdom. Is that not what...

Isle of Wight Bill (9 Nov 1989)

Mr Michael Welsh: The first Lords amendment deals with a point only four lines into the Bill, which is nearly unbelievable. I cannot get to the bottom of the matter. The local authorities want the power to control large overnight assemblies in the open. Does that mean that if there is a boy scouts' jamboree, they can control it, but if there is an acid house party, they may have no desire to control it? I...

Isle of Wight Bill (9 Nov 1989)

Mr Michael Welsh: I thought that we were discussing amendments to the Isle of Wight Bill. That is quite simple. However, we are not. We are discussing a Bill that, has been amended in Committee. We are not discussing Lords amendments to the Bill because no one has a copy of the Bill. We have only the amended version. The Bill is another piece of paper. Is this the procedure that we should follow? My hon....

Bill Presented: Supplemental (8 Nov 1989)

Mr Michael Welsh: I shall be brief, as I know that two of my hon. Friends want to participate before the Minister winds up. I shall speak against the guillotine, the timetable—the chopper—because it is undemocratic. As a Back Bencher, I am entitled to speak against the timetable. Approximately 600 Government amendments have been tabled to the Local Government and Housing Bill. We have been unable to...

Bill Presented: Supplemental (8 Nov 1989)

Mr Michael Welsh: It is about that as well. There are two sorts of people in here—Front Benchers and Back Benchers. Usually, those sitting on the Front Benches are educated and those on the Back Benches are intelligent. That is the only difference. Sometimes, however, one questions educated people, but one does not usually question intelligence. We are here to do things for our constituents. We let them...


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