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House of Commons

Tuesday 9 March 2010

Public Bill Committee

Debt Relief (Developing Countries) Bill

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Mr David Gauke

1

Clause  1,  page  1,  line  20,  leave out ‘identify’ and insert ‘have identified by the date

that this Act comes into force’.

Mr David Gauke

2

Page  4,  line  22,  leave out Clause 5.

New Clauses

Treasury duty to report on impacts

Mr David Gauke

NC1

To move the following Clause:—

‘The Treasury shall within 12 months of the commencement of this Act publish

and lay before Parliament a report setting out its assessment of the following

matters—

(a)	the impact of the Act on the availability and cost of lending to countries

to which the Initiative applies,

(b)	the impact of the Act on the availability and cost of lending to other

developing countries including potentially eligible initiative countries,

(c)	the monetised value of the transfer from creditors to debtors as a

consequence of the Act, and

Public Bill Committee: 9 March 2010

6

Debt Relief (Developing Countries) Bill, continued

(d)	the impact of the Act in determining the choice of law or choice of

jurisdiction for financial contracts.’.

Duration of Act

Mr David Gauke

NC2

To move the following Clause:—

‘(1)	This Act expires at the end of the period of one year begining with

commencement; but this is subject to subsections (2) and (3).

(2)	The Treasury may by order provide that this Act (instead of expiring at the time

it would otherwise expire) expires at the end of the period of one year from that

time.

(3)	The Treasury may by order provide that this Act has permanent effect.

(4)	An order under this section is to be made by statutory instrument.

(5)	An order under this section may be made only if a draft of the statutory instrument

containing it has been laid before, and appoved by a resolution of, each House of

Parliament.

(6)	If this Act expires by virtue of this section—

(a)	the Act is to be treated as never having been in force, and

(b)	accordingly, where—

(i)	a judgement was given, or order or arbitration award made, on a

relevant claim (as defined by sectio 5(2)) while the Act was in

force, and

(ii)	the amount of the judgement, order or award is, as a result of

section 3, less than it would be if that section had not applied in

relation to the claim,

the amount of the judgement, order or award is to be treated as equal to

the amount it would be if the section had not applied in relation to the

claim.’.

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Revised 9 March 2010