Caroline Nokes

With this it will be convenient to discuss the following: Clause stand part. Amendment 14, in clause 2, page 1, line 14, leave out “includes (but is not limited to)” and insert “means”. This amendment would limit the public interest test to the areas set out in subsections (a) to (c). Amendment 23, page 1, line 20, at end insert— “(d) preventing the closure of, or the loss of jobs at, a steel undertaking in Wales.” This amendment includes the public interest in preventing the loss of jobs in Wales and the prevention of the closure of a steel undertaking in Wales in the meaning of public interest for the purposes of the Act. Amendment 1, page 2, line 20, at end insert— “(2A) The Secretary of State may not exercise a principal transfer power unless they have laid a statement before both Houses of Parliament explaining their reasons for concluding that it is necessary to exercise the power in the public interest.” This amendment would require the Secretary of State to lay a statement before Parliament explaining their reasons for concluding that it is necessary to exercise a principal transfer power in the national interest, before exercising that power. Amendment 15, page 2, line 20, at end insert— “(2A) The Secretary of State may not exercise a principal transfer power unless he has commissioned an independent assessment of whether the exercise of the power is in the public interest, and that assessment has demonstrated that it is in the public interest. (2B) The Secretary of State may appoint such independent person as he thinks fit to carry out an independent assessment under subsection (2A) above, and may pay remuneration and allowances to that person.” This amendment would require an independent assessment of whether the public interest test had been met before the Secretary of State could exercise the principal transfer powers. Amendment 16, page 2, line 20, at end insert— “(2A) The exercise of a principal transfer power may only be considered to be in the public interest under subsection (1) if the Secretary of State has is satisfied that the exercise of the power would provide value for money for the taxpayer.” This amendment would require the NAO to have concluded that the exercise of the principal transfer power was good value for money before the Secretary of State could consider it to be in the public interest. Amendment 17, page 2, line 20, at end insert— “(2A) The Secretary of State may not exercise a principal transfer power under subsection (1) unless they have laid a report before Parliament containing full details of the criteria used to assess whether the exercise of power would be in the public interest.” This amendment would require the Secretary of State to publish full details of the criteria used to assess the public interest test before exercising the principal transfer power. Clause 2 stand part. Amendment 12, in clause 3, page 2, line 10, leave out subsections (3) to (5). This amendment would prevent the Secretary of State extending the sunset of the principal transfer powers. Clause 3 stand part. Amendment 2, in clause 4, page 2, line 30, leave out “negative” and insert “affirmative”. This amendment changes the procedure for share transfer regulations from the negative procedure to the affirmative procedure. Clauses 4 to 14 stand part. Amendment 3, in clause 15, page 8, line 21, leave out “negative” and insert “affirmative”. This amendment changes the procedure for property transfer regulations from the negative procedure to the affirmative procedure. Clauses 15 to 38 stand part. Amendment 18, in clause 39, page 25, line 32, leave out “negative” and insert “affirmative”. This amendment would require regulations relating to continuity obligations to be subject to the affirmative procedure. Clauses 39 to 44 stand part. Amendment 19, in clause 45, page 28, line 37, leave out “negative” and insert “affirmative”. This amendment would require regulations related to enforcement to be subject to the affirmative procedure. Clauses 45 to 51 stand part. New clause 2—Stakeholder Advisory Committee— “(1) The Secretary of State must establish a Stakeholder Advisory Committee to provide advice on the exercise of principal transfer powers under this Act (“the Committee”). (2) The Secretary of State must ensure that the membership of the Committee includes representation from stakeholders, including but not limited to— (a) industries that rely on the supply of steel, including the defence sector and critical national infrastructure, (b) representatives of the workforce of the steel undertaking, and (c) local authorities for the areas in which the steel undertaking operates. (3) The Secretary of State must consult, and have regard to the advice of, the Committee before making a determination that the exercise of a principal transfer power is necessary in the public interest under section 2.” This new clause requires the Secretary of State to establish a stakeholder advisory committee. The Secretary of State would be required to seek the committee's advice before making a determination that the exercise of a principal transfer power under the Act was in the public interest. New clause 3—Jobs and industrial transition strategy— “(1) Where the Secretary of State has exercised a principal transfer power in respect of a steel undertaking, the Secretary of State must prepare and publish a jobs and industrial transition strategy. (2) A strategy under subsection (1) must explicitly set out how the Government's investment and transition plans for the specified steel undertaking will— (a) protect skilled employment, (b) provide and support reskilling and redeployment opportunities for the workforce, and (c) deliver tangible economic renewal and support economic resilience in the local communities dependent on the steel undertaking. (3) The strategy must be laid before Parliament within six months of the day on which the regulations exercising the principal transfer power take effect.” This new clause requires that the Secretary of State publishes a report on jobs and industrial transition strategy where it exercises a principal transfer power. New clause 5—Duty to report: 10-year strategy for nationalised steel undertakings— “(1) Within three months of exercising a principal transfer power in relation to a steel undertaking under this Act, the Secretary of State must publish and lay before both Houses of Parliament a report containing a 10-year strategy for the steel undertaking. (2) Any report published under subsection (1) must include— (a) a strategy for the operation of any blast furnaces which form part of the steel undertaking, (b) an investment plan for the steel undertaking, (c) a vision for the future of the site of the steel undertaking, and (d) consideration of the need for a steel procurement strategy which prioritises British steel to support the steel undertaking, for the following 10 years.” This new clause would require the Secretary of State to publish a 10-year strategy for any steel undertaking nationalised under this Act. New clause 8—Contingent liabilities— “(1) The Secretary of State may not exercise a principal transfer power in relation to a steel undertaking unless they have made a statement to Parliament on the value of contingent liabilities associated with the use of the power. (2) The statement made under subsection (1) must include— (a) the value of any contingent liabilities to be acquired; and, (b) the steps the Secretary of State will take to seek to minimise taxpayer exposure to any contingent liabilities so acquired.” This new clause would require the Secretary of State to make a statement to Parliament on contingent liabilities acquired before they exercise a principal transfer power under this Act.