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Companies (Audit, Investigations and Community Enterprise) (Northern Ireland) Order 2005

I do not know how the particular sum has been fixed. However, we are not expecting a massive number of companies. It just provides another opportunity for those involved in this field to go down another route. That is available to them but we are not pushing it. A nominal sum, perhaps, is being provided. As I say, however, it is important to use a regulator, and an independent regulator is being provided. We can therefore close the potential loopholes which the noble Lord, Lord Laird, mentioned. As for the comprehensive treatment of legislation, we recently initiated discussions with the Department of Trade and Industry on extending new proposals in the company law reform Bill to Northern Ireland at the same time. A company law reform Bill is up and coming and we are initiating discussion to include Northern Ireland in that. I hope that that will satisfy noble Lords. It is not a massive change. It is designed to bring to Northern Ireland the comfort of legislation that we have put in train in Great Britain following some of the scandals in America about which we all know—I will not list them—by closing potential loopholes, improving the audit investigation function and thereby improving investor confidence. The £10,000 is a token sum for estimates. The subcontract is to the Great Britain regulator. It is a bit like the 5p in the previous order we discussed; sometimes you have to include a sum in order to make the provision work. It is there for the purpose of estimates and is not a nominal sum. I commend the order to the Grand Committee. On Question, Motion agreed to.