My Lords, this is another attempt to be reassured and comforted. There has been a lot of talk about the continuity of the practice that has been followed by the combination of the OFT and the Competition Commission. It has been described as phase 1 and phase 2. Although these are not in the Bill, and I suspect that they will not find their way into it, there is no doubt that the duty to continue to see whether something should be referred is there, as is the duty to investigate the reference.
The first phase is investigative and the second is quasi-judicial, as has been mentioned by the noble Lord, Lord Stevenson. However, it is proposed that this should be done under one management, and that creates problems. It is not completely dissimilar to our arguments about clearing banking and investment banking. There is on occasion a need for a Chinese wall, but that is difficult if everyone is in one building. I should like to understand more clearly how we are going to keep that feature of the regime in such a way that the new regime is not challenged—or not constantly challenged.
We have a powerful legal profession in the UK. I am now thinking about business and the ease with which it is apparently being reassured that everything will go much more sweetly. We had some very bright QCs in front of the monopolies commission in my day. They were paid to represent the interests of their clients and they were very good at it. Therefore, I think that the Bill is in danger of knocking down a Chinese wall.
I know that my noble friend has already made some references to what I think he is going to tell me are the safeguards. There will not be the contamination of bias and there will not be conflicts of interest, but I am not at all certain about that and I need to be much more reassured than I am at present.
The effect of these two amendments would be to make a start in separating the board from the panel and not having an overlap between the two. They are perhaps just an effort to put one or two bricks in the bottom of the Chinese wall. I beg to move.
6 pm