Privatisation Of Electricity Distribution Companies

EDM number 100 in 1990-91, proposed by Rhodri Morgan on 20/11/1990.

That this House deplores the unprecedented legal protection conferred on the Secretary of State for Energy in the privatisation prospectus, debarring the regulatory authorities or any small investor who loses money on his electricity shares from suing the Secretary of State for failing to disclose information, relevant to the flotation, arising from hostilities in the Gulf, which, combined with the side letter conferring unprecedented rights on the lead underwriters to cancel the whole issue, on the outbreak of Gulf hostilities, protects the Secretary of State for Energy and his allies in the City from Gulf-war risk financial loss, but leaves the small investor wholly unprotected against that risk, if the outbreak of war after first dealings day on 11th December turns the electricity flotation overnight into a financial disaster

This motion has been signed by a total of 42 MPs.