division_name: Transport Bill - Transfer to be to company owned by Crown
motion: <p>As amended in the Standing Committee, considered. 
  
   <p> 
  (a) has been formed and registered under the Companies Act 1985 or the Companies (Northern Ireland) Order 1986; and
   
  
   
  (b) is wholly owned by the Crown.
   
  
   
  (2) For the purposes of this Part a company shall only be regarded as wholly owned by the Crown if each of the issued shares of the company is held by--
   
  
   
  (a) the Treasury,
   
  
   
  (b) the Secretary of State, or
   
  
   
  (c) the nominee of a person falling within paragraph (a) or (b).
   
  
   
  (3) A company to which any property, rights or liabilities have been transferred under a transfer scheme shall not issue any shares or share rights unless such shares or share rights are issued to the Treasury, the Secretary of State or a nominee of either of them.
   
  
   
  (4) Subject to subsection (5), neither the Treasury, the Secretary of State nor a nominee of either of them shall dispose of any shares or share rights in a company to which any property, rights or liabilities have been transferred under a transfer scheme.
   
  
   
  (5) Subsection (4) does not apply to any disposal by the Treasury, the Secretary of State or a nominee or either of them to any other such person.'.-- [Mrs.  Dunwoody.] 
  <p>Brought up, and read the First time. 
  
  <p>
   I beg to move, That the clause be read a Second time.
   
  
  <p> 
     Mr. Deputy Speaker  (Sir Alan Haselhurst):   
   With this it will be convenient to discuss the following: New clause 36-- Transfer to be to not for profit company --
   
  
  <p>If the government had decided to adopt this trust model, I doubt there would have been any opposition from the CAA or NATS.
  <p>Staff shares can only be sold to other staff or a staff trust.
  <p>in spite of the protestations of the airlines that "safety [is] our most important priority . . . [we] do not seek competitive advantage as far as safety is concerned", concern remains that in the event of conflict between safety considerations and profit margins, airlines may favour their profit margins.
  <p>some things . . . are too important to leave to bodies whose first motive is profit and whose first fiduciary duty is to their shareholders.
  <p>Our air is not for sale.
  <p>the worst of all the possible options.
  <p>our air is not for sale
  <p>the Council believes they will preserve the successful civil/military relationship that currently exists between NATS and the MOD and ensure that air traffic services are sustained on a joint and integrated basis . . .
  <p>Question put,  That the clause be read a Second time:--
  <p>The House divided:  Ayes 99, Noes 307.
  