Enterprise and Regulatory Reform Bill — Decline Second Reading — 11 Jun 2012 at 21:46

The majority of MPs voted in favour of giving a second reading to the Enterprise and Regulatory Reform Bill, supporting the key principles of the Bill and enabling it to continue on its path to becoming law.

The Bill:

• Establishes the UK Green Investment Bank which invests in projects which further the "green purposes" set out in the Bill, which include the reduction of greenhouse gas emissions; the advancement of efficiency in the use of natural resources; the protection or enhancement of the natural environment; the protection or enhancement of biodiversity; and the promotion of environmental sustainability.
• Facilitates agreements between employers and employees to reduce the number of cases being decided at an employment tribunal; and also strengthens the powers of employment tribunals.
• Establishes the Competition and Markets Authority and abolishes the Competition Commission and the Office of Fair Trading;
• Repeals [http://www.legislation.gov.uk/ukpga/1988/48/section/52 Section 52 of the Copyright, Designs and Patents Act 1988; which removing the dis-application, after 25 years, of copyright law from artistic works exploited by industrially making and selling copies of the work. The repeal means copyright on such works will extend for life of the author plus 70 years.
• Prevents a reduction in the maximum penalties for the most serious cases of copyright infringement which could occur as a result of the European Communities Act.
• Requires more openness in relation to director pay at quoted companies

The amendment rejected in this vote was:

• That this House,
• whilst supporting the principles of the Green Investment Bank and affirming its belief that active government should work in partnership with business to encourage long-term sustainable economic growth, facilitate enterprise, protect the rights of all, particularly low-paid, workers and simplify regulation where necessary, declines to give a Second Reading to the Enterprise and Regulatory Reform Bill because it does not provide a strategy for economic growth;
• believes that the Bill contains inadequate measures to boost business confidence, enhance this country’s international competitiveness, increase competition in consumer markets or protect consumers from powerful vested interests;
• further believes that the Bill fails to provide sufficient support to empower shareholders, investors and employees on executive remuneration to bring to an end excessive rewards for corporate failure; and
• is concerned that the Bill grants the Secretary of State additional powers to alter compensatory awards for unfair dismissal and contains provisions relating to the conciliation process that could dilute the rights of people at work.

The operative phrase in the rejected amendment was: "declines to give a Second Reading to the Enterprise and Regulatory Reform Bill".

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• [1] Parliament's webpage on the Enterprise and Regulatory Reform Bill

Debate in Parliament | Source |