Clause 67 - Reorganisation of water and sewerage services in Northern Ireland

Part of Finance Bill – in a Public Bill Committee am 4:45 pm ar 30 Mehefin 2005.

Danfonwch hysbysiad imi am ddadleuon fel hyn

Photo of Dawn Primarolo Dawn Primarolo Paymaster General (HM Treasury) 4:45, 30 Mehefin 2005

None of the hon. Gentleman's questions are relevant to the clause. It simply provides that if, following consultation in Northern Ireland, the decision is taken to transfer to a wholly owned Government company, the transfer of the assets will be dealt with in the same way as transfers to new companies that are wholly owned by a Department. The legislation, the consultation and therefore the change is a matter for the Northern Ireland Office. The legislation, as requested by that Department, makes sure that if a wholly owned Department company is created, there are no tax consequences, which is normal practice.