Amendments proposed to the Enterprise Bill - continued House of Commons

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Miss Melanie Johnson

581

Clause     241,     page     166,     line     40,     after first 'of', insert 'a receiver who on appointment would be'.

   

Mr John Whittingdale
Mr Nigel Waterson
Mr Charles Hendry
Mr Andrew Lansley
Mr Jonathan Djanogly
Mr Mark Field

523

Clause     241,     page     167,     line     7,     after 'instrument,' insert 'and the date so appointed shall be a date after the date of such order'.

   

Miss Melanie Johnson

477

Clause     241,     page     168,     line     17,     leave out from second 'project' to end of line 20 and insert 'which—

      (a) is a financed project, and

      (b) includes step-in rights.'.

   

Miss Melanie Johnson

478

Clause     241,     page     168,     line     25,     leave out paragraph (b).

   

Miss Melanie Johnson

587

Clause     241,     page     168,     line     33,     leave out 'if' and insert 'by virtue of'.

   

Miss Melanie Johnson

588

Clause     241,     page     168,     line     34,     leave out paragraphs (a) to (c) and insert—

      '(a) a market charge within the meaning of section 173 of the Companies Act 1989 (c.40),'.

   

Miss Melanie Johnson

589

Clause     241,     page     168,     line     41,     leave out 'there is'.

   

Miss Melanie Johnson

590

Clause     241,     page     168,     line     42,     leave out 'over property of the company'.

   

Miss Melanie Johnson

591

Clause     241,     page     168,     line     44,     leave out paragraph (e).

   

Miss Melanie Johnson

592

Clause     241,     page     169,     line     1,     leave out 'there is'.

   

Miss Melanie Johnson

593

Clause     241,     page     169,     line     1,     leave out 'those regulations' and insert 'the Financial Markets and Insolvency (Settlement Finality) Regulations 1999 (S.I. 1999/2979)'.

   

Miss Melanie Johnson

594

Clause     241,     page     169,     line     2,     leave out 'over property of the company'.


   

Miss Melanie Johnson

507

Schedule     18,     page     280,     line     28,     leave out 'raising finance as part of' and insert 'implementing'.

   

Miss Melanie Johnson

508

Schedule     18,     page     281,     line     42,     after 'to' insert—

            '(a)'   

   

Miss Melanie Johnson

509

Schedule     18,     page     281,     line     43,     at end insert—

       ', or

      (b)  make arrangements for carrying out all or part of the project.

    '(2) In sub-paragraph (1) a reference to the provision of finance includes a reference to the provision of an indemnity.'.


   

Mr John Whittingdale
Mr Nigel Waterson
Mr Charles Hendry
Mr Andrew Lansley
Mr Jonathan Djanogly
Mr Mark Field

437

Clause     242,     page     170,     line     5,     after 'production)"', insert 'and immediately after those words there shall be inserted "after deducting any amounts paid or payable by the Secretary of State in respect of such debts under Part XII of the Employment Rights Act 1996.".'.

   

Mr John Whittingdale
Mr Nigel Waterson
Mr Charles Hendry
Mr Andrew Lansley
Mr Jonathan Djanogly
Mr Mark Field

438

Clause     242,     page     170,     line     5,     at end insert—

    '(4)   In section 189 of the Employment Rights Act 1996 (Transfer to Secretary of State of Rights and Remedies) subsections (2) to (4) shall cease to have effect.'.


   

Mr John Whittingdale
Mr Nigel Waterson
Mr Charles Hendry
Mr Andrew Lansley
Mr Jonathan Djanogly
Mr Mark Field

524

Clause     243,     page     170,     line     16,     at end insert 'appointed under such floating charge'.

   

Mr John Whittingdale
Mr Nigel Waterson
Mr Charles Hendry
Mr Andrew Lansley
Mr Jonathan Djanogly
Mr Mark Field

439

Clause     243,     page     170,     leave out lines 17 to 22 and insert—

    '(2)   A prescribed part of the company's net property shall be applied towards the satisfaction of debts that are neither preferential nor secured and shall not be distributed to the proprietor of a floating charge except in so far as it exceeds the amount required for the satisfaction of such debts.

      (a) where subsection (1)(a) applies the liquidator shall use the prescribed part to pay the unsecured debts in whole or in part.

      (b) where subsection (1)(b) applies the administrator shall use the prescribed part to pay the unsecured debts in whole or in part or, if so authorised by proposals approved under paragraph 51 of Schedule B1, make it available for that purpose to a liquidator of the company, the supervisor of a voluntary arrangement to which the company is subject or the company itself.

      (c) where subsection (1)(c) applies the provisional liquidator shall, subject to any order of the court, retain the prescribed part until a winding-up order is made or the petition dismissed.

      (d) where subsection (1)(d) applies the receiver shall use the prescribed part to pay the unsecured debts in whole or in part or make it available for that purpose to any liquidator of the company.'.

   

Mr John Whittingdale
Mr Nigel Waterson
Mr Charles Hendry
Mr Andrew Lansley
Mr Jonathan Djanogly
Mr Mark Field

440

Clause     243,     page     170,     line     25,     after 'minimum', insert 'amount or less than the prescribed minimum proportion of the unsecured debts.'.

   

Dr Vincent Cable
Mr Alistair Carmichael
Dr John Pugh

456

Clause     243,     page     170,     line     26,     leave out 'thinks' and insert 'reasonably believes'.

   

Mr John Whittingdale
Mr Nigel Waterson
Mr Charles Hendry
Mr Andrew Lansley
Mr Jonathan Djanogly
Mr Mark Field

525

Clause     243,     page     170,     line     35,     after 'property', insert 'subject to a floating charge'.

   

Miss Melanie Johnson

479

Clause     243,     page     170,     line     35,     leave out from 'property' to end of line 39 and insert 'which would, but for this section, be available for satisfaction of claims of holders of debentures secured by, or holders of, any floating charge created by the company.'.

   

Dr Vincent Cable
Mr Alistair Carmichael
Dr John Pugh

457

Clause     243,     page     170,     line     36,     at end add 'and limited to the value of the assets over which the fixed charge subsists.'.

   

Mr John Whittingdale
Mr Nigel Waterson
Mr Charles Hendry
Mr Andrew Lansley
Mr Jonathan Djanogly
Mr Mark Field

526

Clause     243,     page     170,     line     38,     leave out 'the company's' and insert 'such'.

   

Dr Vincent Cable
Mr Alistair Carmichael
Dr John Pugh

458

Clause     243,     page     170,     line     38,     at end add 'including any trading loss incurred.'.

   

Miss Melanie Johnson

480

Clause     243,     page     170,     line     41,     after 'may', insert ', in particular,'.

   

Dr Vincent Cable
Mr Alistair Carmichael
Dr John Pugh

459

Clause     243,     page     171,     line     12,     after 'creation', insert '; in Scotland, references to the creation of a charge are—

      (a) in the case of a floating charge, the date on which the instrument creating the floating charge was executed by the company creating the charge, and

      (b) in any other case, the date on which the right of the person entitled to the benefit of the charge was constituted as a real right.'.

   

Mr John Whittingdale
Mr Nigel Waterson
Mr Charles Hendry
Mr Andrew Lansley
Mr Jonathan Djanogly
Mr Mark Field

429

Clause     243,     page     171,     line     13,     at end insert—

       '"Receiver" means an administrative receiver or (in Scotland) a receiver appointed under Chapter II of Part III of the Insolvency Act 1986.'.

   

Miss Melanie Johnson

481

Clause     243,     page     171,     line     19,     leave out 'reason' and insert 'virtue'.


   

Mr John Whittingdale
Mr Nigel Waterson
Mr Charles Hendry
Mr Andrew Lansley
Mr Jonathan Djanogly
Mr Mark Field

527

Page     171,     line     21,     leave out Clause 244.


   

Mr John Whittingdale
Mr Nigel Waterson
Mr Charles Hendry

44

Clause     245,     page     171,     line     33,     leave out 'one year' and insert 'two years'.

   

Mr John Whittingdale
Mr Nigel Waterson
Mr Charles Hendry
Mr Andrew Lansley
Mr Jonathan Djanogly
Mr Mark Field

455

Clause     245,     page     171,     leave out line 33 and insert—

      (a) in the case of an individual whose bankruptcy arises from the closure of a business or trade established or operated by that individual, one year beginning with the date on which the bankruptcy commences; and

      (b) in cases not falling within subsection 1(a):

      (i) where a certificate for the summary administration of the bankrupt's estate has been issued and is not revoked before the bankrupt's discharge, two years beginning with the date on which the bankruptcy commences; and

      (ii) in any other case, three years beginning with the date on which the bankruptcy commences'.

 
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Prepared 9 May 2002