§ [No. 36]
§ Lord KIRKHILL
I beg to move that this House doth agree with the Commons in their Amendment No. 36. The purpose of this Amendment is to enable my right honourable friend the Secretary of State to give his consent to acquisitions by the Agency or their subsidiaries in the form of a general authority. The purpose is to ensure that the control over acquisitions by partly-owned subsidiaries should not unduly restrict the interests of private sector participants in such subsidiaries. This Amendment is really consequential on Amendment No. 35 and I think that the need for the Amendment arises because the extension of the safeguards in Clause 14 to all subsidiaries of the Agency could have affected adversely the interests of non-wholly-owned subsidiaries and their minority outside shareholders. The private sector could have been discouraged from participating in valuable and productive joint ventures. I would commend this Amendment to your Lordships.
§ Moved, That this House doth agree with the Commons in the said Amendment.—(Lord Kirkhill.)
§ On Question, Motion agreed to.