Consumers, Estate Agents and Redress Bill [Lords]

I thank the Minister for accepting the principle that my hon. Friend the Member for Hertford and Stortford (Mr. Prisk) put across in Committee and for tabling the Government amendment, which incorporates what was discussed there. The new NCC must be independent, and it was important to seek from the Government an assurance that there are satisfactory management and audit oversight provisions to ensure that public money is well spent. I am sure that the Minister agrees with that. The power in the original clause was wide, and there was concern over the lack of a specific mechanism to prevent the NCC from incurring significant losses on a particular business venture. We have seen that with certain educational institutions that go out into business ventures abroad. Specifically, the amendment ensures that the reasons behind any consent given by the Secretary of State will be in the public domain, thus ensuring accountability and transparency. Again, I thank the Minister for tabling it. Amendment agreed to.