European Union Documents

Motion made, and Question put forthwith (Standing Order No. 119(11)),

Investor Compensation Schemes

That this House considers that the draft Directive to amend the Investor Compensation Schemes Directive (European Union Document 12346/10) does not comply with the principle of subsidiarity, for the reasons set out in the Annex to chapter 7 of the Third Report of the European Scrutiny Committee (HC 428-iii); and, in accordance with Article 6 of the Protocol on the application of the principles of subsidiarity and proportionality, instructs the Clerk of the House to forward this reasoned opinion to the presidents of the European institutions.—(Angela Watkinson.)

Question agreed to.