Clause 12 - Employee securities: anti-avoidance

Finance Bill – in a Public Bill Committee am 12:30 pm ar 21 Mehefin 2005.

Danfonwch hysbysiad imi am ddadleuon fel hyn

Photo of Nicholas Winterton Nicholas Winterton Ceidwadwyr, Macclesfield

I have to tell you that that comes under schedule 2. Do you wish to speak to stand part?

Photo of Mark Field Mark Field Shadow Financial Secretary

As you will see, Sir Nicholas, clause 12 introduces schedule 2. If we can have a stand part debate in relation to schedule 2 at the end of the consideration of our amendments, I should be   grateful. I hope that, with leave, you will allow us to do that.

Photo of Nicholas Winterton Nicholas Winterton Ceidwadwyr, Macclesfield

That depends on how it goes. If I believe that adequate debate has taken place on all parts of schedule 2, I would not allow time for a stand part debate. I cannot make that decision, however, until I see how the debate on schedule 2 has taken place. I say to the hon. Gentleman that clause 12 merely introduces schedule 2. The Committee must trust me on this matter.

Photo of Dawn Primarolo Dawn Primarolo Paymaster General (HM Treasury)

On a point of order, Sir Nicholas, I wish to make a couple of opening remarks before we start the debate on the amendments. Would it be in order for me to do that at the beginning of schedule 2, or should I do it on clause 12?  

Photo of Nicholas Winterton Nicholas Winterton Ceidwadwyr, Macclesfield

I should have thought that it would perhaps be sensible for general remarks to be made under clause 12 stand part.

Question proposed, That the clause stand part of the Bill.

Photo of Dawn Primarolo Dawn Primarolo Paymaster General (HM Treasury)

Thank you for your guidance, Sir Nicholas. I want to make a few opening remarks on clause 12, as it introduces schedule 2. I wanted to start by making it clear that the targets with regard to the arrangements are where a minority of individuals remain intent on devising ever more complex—

It being One o'clock, The Chairman adjourned the Committee without Question put, pursuant to the Standing Order.

Adjourned till this day at half-past Four o'clock.