My Lords, this is probably the final time that noble Lords will have the dubious pleasure of hearing from me, and I assure the House that I will be brief. I wholeheartedly support Motion E1 in the name of the noble Baroness, Lady Bowles, and all the remarks that have...

My Lords, this is probably the final time that noble Lords will have the dubious pleasure of hearing from me, and I assure the House that I will be brief. I wholeheartedly support Motion E1 in the name of the noble Baroness, Lady Bowles, and all the remarks that have...

My Lords, I support all the amendments in this group, and particularly Amendment 209, in the names of my noble friend Lady Morgan of Cotes and other noble Lords who have added their names.

I have a granddaughter, now aged 10, who from birth has been allergic to dairy, eggs and...

My Lords, I support all the amendments in this group, and particularly Amendment 209, in the names of my noble friend Lady Morgan of Cotes and other noble Lords who have added their names.

I have a granddaughter, now aged 10, who from birth has been allergic to dairy, eggs and...

My Lords, I very much support the amendments in this group, tabled variously in the names of the noble Baronesses, Lady Altmann and Lady Bowles of Berkhamsted. They all seek to ensure that closed-ended funds, in the form of UK-listed investment companies, are not disqualified from being eligible to invest...

My Lords, I very much support the amendments in this group, tabled variously in the names of the noble Baronesses, Lady Altmann and Lady Bowles of Berkhamsted. They all seek to ensure that closed-ended funds, in the form of UK-listed investment companies, are not disqualified from being eligible to invest...

My Lords, I will comment briefly on the amendments in this group, tabled by several noble Lords, relating to the suitability of private markets and a potential cap on the allocation of funds to those markets. Equity and debt markets often now tend to be positively correlated; in other words,...

My Lords, I will comment briefly on the amendments in this group, tabled by several noble Lords, relating to the suitability of private markets and a potential cap on the allocation of funds to those markets. Equity and debt markets often now tend to be positively correlated; in other words,...

My Lords, I support this amendment in the name of the noble Lord, Lord Hogan-Howe, and my noble friend Lord Evans. In doing so, I feel that I am following modestly in a family tradition. I suspect that the noble Lord is not aware that my great-grandfather in the other...

My Lords, I support this amendment in the name of the noble Lord, Lord Hogan-Howe, and my noble friend Lord Evans. In doing so, I feel that I am following modestly in a family tradition. I suspect that the noble Lord is not aware that my great-grandfather in the other...

My Lords, in view of the hour, I shall attempt to be brief, but I would like to speak in support of the thrust of the amendments proposed in this group. I do so in the context of the Government’s wider manifesto commitments.

I do not want to trespass upon or...

My Lords, in view of the hour, I shall attempt to be brief, but I would like to speak in support of the thrust of the amendments proposed in this group. I do so in the context of the Government’s wider manifesto commitments.

I do not want to trespass upon or...

I declare my interest, having been a non-executive director of Severn Trent, the largest of the listed water companies, for eight years between 2014 and 2022, chairing the board’s remuneration committee during that time.

I support Motion 2A in the name of my noble friend Lord Blencathra and will address the...

I declare my interest, having been a non-executive director of Severn Trent, the largest of the listed water companies, for eight years between 2014 and 2022, chairing the board’s remuneration committee during that time.

I support Motion 2A in the name of my noble friend Lord Blencathra and will address the...

My Lords, I declare an interest as having been a non-executive director of Severn Trent, the largest of the listed water companies, for eight years between 2014 and 2022. I chaired the board’s remuneration committee for that time.

I thank the Minister for taking the time to meet me last week...

My Lords, I declare an interest as having been a non-executive director of Severn Trent, the largest of the listed water companies, for eight years between 2014 and 2022. I chaired the board’s remuneration committee for that time.

I thank the Minister for taking the time to meet me last week...

I apologise for interrupting the Minister; I do not mean any discourtesy. I thank her for clarifying that the provisions relate to the time from 1 April 2024. Despite what she has said, I am still concerned about the retrospective element. My understanding is that that would affect the bonus...

I apologise for interrupting the Minister; I do not mean any discourtesy. I thank her for clarifying that the provisions relate to the time from 1 April 2024. Despite what she has said, I am still concerned about the retrospective element. My understanding is that that would affect the bonus...

Moved by

Lord Remnant

10: Clause 1, page 4, line 25, leave out “2024” and insert “2025”

Member’s explanatory statement

This amendment ensures that the provisions about performance-related pay do not have retroactive effect.

Moved by

Lord Remnant

10: Clause 1, page 4, line 25, leave out “2024” and insert “2025”

Member’s explanatory statement

This amendment ensures that the provisions about performance-related pay do not have retroactive effect.

My Lords, I heard what the Minister had to say, but I have to say that I believe that the retrospective effect of this legislation is not appropriate —all the more so if it is going to impact on remuneration arrangements that were put in place as long ago as...

My Lords, I heard what the Minister had to say, but I have to say that I believe that the retrospective effect of this legislation is not appropriate —all the more so if it is going to impact on remuneration arrangements that were put in place as long ago as...

Moved by

Lord Remnant

50: Clause 10, page 14, leave out lines 7 to 9

Member's explanatory statement

This amendment ensures that compliant companies in the sector are not required to render financial assistance to recover SAO losses caused by another company under special administration.

Moved by

Lord Remnant

50: Clause 10, page 14, leave out lines 7 to 9

Member's explanatory statement

This amendment ensures that compliant companies in the sector are not required to render financial assistance to recover SAO losses caused by another company under special administration.

My Lords, under the special administration orders part of the Bill, relating to the insolvency of water companies, Clause 10 gives the Secretary of State the power to modify the licence of a water company in administration or solvency to recover from its customers any shortfall in costs incurred by...

My Lords, under the special administration orders part of the Bill, relating to the insolvency of water companies, Clause 10 gives the Secretary of State the power to modify the licence of a water company in administration or solvency to recover from its customers any shortfall in costs incurred by...

My Lords, the hour is late, so I will be brief. I thank everybody who has participated in our discussion of this group of amendments, and in particular my noble friend Lord Roborough for his support. There is clearly a lot of interest in the special administration regime and the...

My Lords, the hour is late, so I will be brief. I thank everybody who has participated in our discussion of this group of amendments, and in particular my noble friend Lord Roborough for his support. There is clearly a lot of interest in the special administration regime and the...

My Lords, I was not intending to speak to this group of amendments, but I have been so impressed, not for the first time, by the ability of the noble Baroness, Lady Parminter, to speak fluently without notes that I thought I would try to emulate her on this occasion.

I...

My Lords, I was not intending to speak to this group of amendments, but I have been so impressed, not for the first time, by the ability of the noble Baroness, Lady Parminter, to speak fluently without notes that I thought I would try to emulate her on this occasion.

I...

My Lords, I will speak to Amendment 3 in my name and I apologise for the typo. I had noticed it, but only recently, and only a moment or two before the noble Duke, the Duke of Wellington, brought it to the Committee’s notice.

As we know, Clause 1 contains rules...

My Lords, I will speak to Amendment 3 in my name and I apologise for the typo. I had noticed it, but only recently, and only a moment or two before the noble Duke, the Duke of Wellington, brought it to the Committee’s notice.

As we know, Clause 1 contains rules...

My Lords, I must admit to having experienced a degree of trepidation on discovering that I was to share a group of amendments with the noble Lord, Lord Sikka, and with him alone. Having listened to his views on the Bill in general, so eloquently expressed at Second Reading, I...

My Lords, I must admit to having experienced a degree of trepidation on discovering that I was to share a group of amendments with the noble Lord, Lord Sikka, and with him alone. Having listened to his views on the Bill in general, so eloquently expressed at Second Reading, I...

My Lords, as the noble Earl, Lord Russell, indicated, this group of amendments deals with a common theme of representation on water company boards but has several different facets.

Amendment 22 in my name would ensure that it is for the boards of water companies, rather than Ofwat, to decide in...

My Lords, as the noble Earl, Lord Russell, indicated, this group of amendments deals with a common theme of representation on water company boards but has several different facets.

Amendment 22 in my name would ensure that it is for the boards of water companies, rather than Ofwat, to decide in...

My Lords, I am delighted that Clause 10 does not appear to envisage a role for Ofwat. The amendments in this group are not really related to each other. As such, I shall confine my remarks to Amendment 86 in my name and I shall be brief.

Under the “Special administration...

My Lords, I am delighted that Clause 10 does not appear to envisage a role for Ofwat. The amendments in this group are not really related to each other. As such, I shall confine my remarks to Amendment 86 in my name and I shall be brief.

Under the “Special administration...

My Lords, I am delighted that Amendment 26 in my name falls into the same grouping as those in the name of my noble friends Lord Roborough and Lord Blencathra. Although I very much regret that your Lordships’ time is having to be spent on potentially amending proposed legislation that...

My Lords, I am delighted that Amendment 26 in my name falls into the same grouping as those in the name of my noble friends Lord Roborough and Lord Blencathra. Although I very much regret that your Lordships’ time is having to be spent on potentially amending proposed legislation that...