Select Committee on Treasury Sixth Report



PROCEEDINGS OF THE COMMITTEE

RELATING TO THE REPORT

THURSDAY 18 JULY

  [MORNING SITTING]

Members present:

Mr John McFall, in the Chair

Mr Jim Cousins      Dr Nick Palmer

Mr Michael Fallon    Mr James Plaskitt

Mr David Laws      Mr David Ruffley

Kali Mountford      Mr Andrew Tyrie

Mr George Mudie

The Committee deliberated.

Draft Report (Financial Regulation of Public Limited Companies), proposed by the Chairman, brought up and read.

Ordered, that the draft Report be read a second time, paragraph by paragraph.

Paragraph 1 to 4 read and agreed to.

Paragraph 5 read, amended and agreed to.

Paragraphs 6 to 10 read and agreed to.

Paragraphs 11 to 13 read amended and agreed to.

Paragraphs 14 to 16 read and agreed to.

Paragraph 17 read, amended and agreed to.

Paragraph 18 read, amended and agreed to.

Paragraph divided (now paragraphs 18 and 19).

Paragraphs 19 and 20 (now paragraphs 20 and 21) read and agreed to.

Paragraph 21 (now paragraph 22) read, amended and agreed to.

Paragraphs 22 to 25 (now paragraphs 23 to 26) read and agreed to.

A paragraph - (Mr Jim Cousins) - brought up, read the first and second time, and inserted (now paragraph 27).

Paragraphs 26 (now paragraph 28) read, amended and agreed to.

Paragraphs 27 and 28 (now paragraphs 29 and 30) read and agreed to.

Another paragraph - (The Chairman) - brought up, read the first and second time, amended and inserted (now paragraph 31).

 

Paragraph 29 (now paragraph 32) read, amended and agreed to.

Paragraphs 30 to 32 (now paragraph 33 to 35) read and agreed to.

Paragraphs 33 and 34 (now paragraphs 36 and 37) read, amended and agreed to.

Paragraph 35 (now paragraph 38) read and agreed to.

Paragraph 36 read as follows:

"We support the concept of a greater role for non-executive directors within the framework of a unitary board."

Paragraph disagreed to.

Paragraphs 37 and 38 (now paragraphs 39 and 40) read and agreed to.

Paragraph 39 read.

Ordered, that further consideration of the Chairman's draft Report be now adjourned. - (The Chairman.)

Report to be further considered this day.

 

  [Adjourned till this day at Two o'clock

 

 

 

 

THURSDAY 18 JULY

  [AFTERNOON SITTING]

Members present:

Mr John McFall, in the Chair

Mr Jim Cousins      Dr Nick Palmer

Mr Michael Fallon    Mr James Plaskitt

Mr David Laws      Mr David Ruffley

Mr George Mudie    Mr Andrew Tyrie

  * * *

Consideration of the Chairman's draft Report (Financial Regulation of Public Limited Companies) resumed.

Paragraph 39 again read.

Paragraph amended and agreed to (now paragraph 41).

Paragraphs 40 and 41 (now paragraphs 42 and 43) read and agreed to.

Paragraphs 42 to 44 (now paragraphs 44 to 46) read, amended and agreed to.

Paragraph 45 (now paragraph 47) read and agreed to.

Paragraph 46 (now paragraph 48) read, amended and agreed to.

Paragraphs 47 to 50 (now paragraphs 49 to 52) read and agreed to.

Paragraph 51 (now paragraph 53) read, amended and agreed to.

Paragraph 52 (now paragraph 54) read and agreed to.

Paragraphs 53 to 56 (now paragraphs 55 to 58) read, amended and agreed to.

Paragraph 57 read as follows:

"We also think that there are public expectations of a greater degree of activity from the Government. DTI and Treasury witnesses left us with a sense of unease about the urgency with which the Government is tackling this matter."

Paragraph disagreed to.

Paragraph 58 (now paragraph 59) read and agreed to.

Paragraph 59 (now paragraph 60) read, amended and agreed to.

Another paragraph - (Mr Jim Cousins) - brought up, read the first and second time and inserted (now paragraph 61).

Paragraph 60 (now paragraph 62) read and agreed to.

Resolved, That the Report, as amended, be the Sixth Report of the Committee to the House.

Ordered, That the Chairman do make the Report to the House.

Several further Papers were ordered to be appended to the Minutes of Evidence.

Ordered, That further Papers ordered to be appended to the Minutes of Evidence be reported to the House. - (The Chairman.)

  [Adjourned till Tuesday 23 July at Ten o' clock

 


 
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Prepared 23 July 2002