---

Energy Bill

These amendments concern the definition of security. They are important and helpful as far as they go. We agree with the Minister that security must remain if a company becomes insolvent. Clause 53(4) states that, for the purposes of subsection (3), no regard is to be had to the Insolvency Act and the Northern Ireland equivalent to the extent that it would prevent or restrict the protected assets being applied as necessary to cover the cost of decommissioning. Is this the right way of doing that? Whether or not regard is so paid, if we get to a point at which the site operator becomes insolvent, it is too late—the horse has bolted. I would go further: this must not be dependent on whether the company goes bust. The security set-aside must remain set aside, completely independent of the solvency of the site operator. Perhaps the noble Lord can help me.