Enterprise and Regulatory Reform Bill — Third Reading — 17 Oct 2012 at 18:55

The majority of MPs voted to support the Enterprise and Regulatory Reform Bill at its third reading, to support the Bill as it stood and allow it to continue its path to becoming law.

The Bill^[1]:

• 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 Section 52 of the Copyright, Designs and Patents Act 1988; which removes 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

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

Debate in Parliament | Source |