Clause 12 - Power to direct designated counterparty
Amendment proposed: 8, page 7, line 6, at end insert—
“(3) A direction given under subsection (1) must include a requirement for the designated counterparty to report on—
(a) the impact of any revenue certainty contract on the fluctuation of the average price to consumers of an airfare over the proceeding 12 month period;
(b) a projection of the expected impact of any revenue certainty contract on the fluctuation of the average price to consumers of an airfare over the following five year period.
(4) A report under paragraph (a) must be made within one year of the date of Royal Assent to this Act and annually thereafter.
(5) The Secretary of State must lay a report made under paragraph 3(a) before Parliament.”—(Greg Smith.)