Session 2005 - 06
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Minutes and Order Papers

Minutes and Order Paper - Order Paper and Future Business  

NOTICES AND ORDERS OF THE DAY

Items marked † are new or have been altered.Items marked ‡ are expected to be taken during the dinner adjournment.

TUESDAY 15TH NOVEMBER

At half-past two o’clock

*The Baroness Massey of Darwen—To ask Her Majesty’s Government what strategies are in place to encourage the development of cricket in schools.

WEDNESDAY 16TH NOVEMBER

*The Lord Clinton-Davis—To ask Her Majesty’s Government how they propose to address the issue of the level of income of the junior Bar and of many solicitors in relation to legal aid in criminal cases.

TUESDAY 13TH DECEMBER

†*The Lord Harrison—To ask Her Majesty’s Government whether they will take steps to ensure that the archives of major British authors are retained in the United Kingdom and are not acquired by overseas institutions.

NO DAY NAMED

PART I

†Insurers (Reorganisation and Winding Up) (Lloyd’s) Regulations 2005—The Lord Ahmed to move, That an Humble Address be presented to Her Majesty praying that the Regulations, laid before the House on 20th July, be annulled (S.I. 2005/1998).

†The Lord Beaumont of Whitley—To call attention to the disposal of allotment land in England in 2004 and 2005; and to move for papers.

PART II

MOTIONS FOR BALLOTED DEBATE

†Insurers (Reorganisation and Winding Up) (Lloyd’s) Regulations 2005—The Lord Ahmed to move, That an Humble Address be presented to Her Majesty praying that the Regulations, laid before the House on 20th July, be annulled (S.I. 2005/1998).

PRAYER to the House of Lords by Lord Ahmed of Rotherham:-

That an Humble Address be presented to Her Majesty praying that the Order, laid before the House on 20th July 2005, be annulled (S.I 2005 1998).

The said SI was issued to enable EU Directive 2001/17/EC of the European Parliament and of the Council of 19th March 2001 on the reorganisation and winding-up of insurance undertakings, being the compilation of numerous Council Directives from 73/239/EEC 24 July 1973.

HOWEVER, SI 2005 1998 has been improperly expanded so as to impose on already vulnerable people unquantifiable and severe burdens, contrary to the rule of law, as follows:

1. SI 2005/1998 makes important changes to insolvency law by means of delegated legislation which has not been debated in Parliament.

2. It was ‘laid on the table’ on 20 July 2005, a day before the summer recess, yet deserves thorough debate.

3. The SI contradicts the Enterprise Act 2002 which envisages bankruptcy proceedings being concluded after twelve months.

4. The effect of SI 2005/1998 is to impose on individuals liability for underwriting losses incurred prior to its coming into force on August 10, 2005. It is therefore retroactive, contrary to well established constitutional conventions

5. Through inadequate disclosure and in particular cases fraudulent concealment, Names were made liable for undisclosed losses and liabilities, a situation worse by the absence of supposedly existing non-existing reserves: had Names got notice of these lapses and dangers, they would have acted on an informed basis. The admitted inadequacies of the disclosure made are the fault of Lloyds itself, exacerbated by insufficiently rigorous supervision by the public authorities in light of the applicable EC legislation. Fraus omnia vitiat.

6. Infringement of promises made to Parliament as a quid pro quo for Lloyd's statutory immunity in 1982; Lloyd's removed the requirement for Names’ agents to hold Errors & Omissions cover, thereby removing a vital safeguard for Lloyd’s Names, and Lloyd’s were granted statutory immunity in the Lloyd's Act 1982, except for acts or omissions in bad faith;

7. Statutory Instrument 1982 no 136 enacted changes to the Audit Rules by Lloyd's so removing responsibility from the auditors of Lloyds to provide an independent audit or to warn of insufficient reserves.

8. Lloyd's invited members of the public to become Names in the Lloyd's Market despite there being no auditing system to protect the public or to estimate outstanding liabilities prior to the introduction of the FSMA.

Robert Owen ~ SAFE 12th November 2005