Crown Estate (Wales) Bill [HL] 2024-26

9

After Clause 1, insert the following new Clause—<br> <b>“Report on the effectiveness of devolution of the Crown Estate in Wales</b><br> Within 12 months of the day on which this Act comes into force the Secretary of Statement must prepare and publish a report of the impact of the devolution of the Crown Estate in Wales on—<br> (a) the management of the Crown Estate’s finances in Wales,<br> (b) the effective management of the Crown Estate’s land in Wales, and<br> (c) environmental standards in Wales.”

<p>This amendment would require the Secretary of State to produce a report on the effectiveness of devolving the management of the Crown Estate.</p>

1

Clause 1, page 2, line 6, leave out from “management” to end of line 7

<p>This amendment would ensure that any revenues from the Welsh Crown Estate would still be paid into the Exchequer.</p>

2

Clause 1, page 2, line 38, at end insert—<br> “(e) for limiting the amount the transferee is able to borrow to a net to debt asset value ratio of no more than 25 per cent.”

3

Clause 1, page 2, line 38, at end insert—<br> “(12A) The Treasury may impose whatever conditions the Treasury sees fit under the scheme for ensuring the expeditious exercise of the functions of the Crown Estate in Wales.”

6

Clause 1, page 4, line 26, leave out subsections (9) to (11)

<p>This amendment would ensure that any revenues from the Welsh Crown Estate would still be paid into the Exchequer.</p>

8

After Clause 1, insert the following new Clause—<br> <b>“Limit on borrowing of the Welsh Crown Estate</b><br> (1) The Welsh Ministers or the transferee must limit any borrowing by the Crown Estate in Wales under this Act by regulations made by statutory instrument, and these regulations may not be made unless a draft of the instrument has been laid before and approved by a resolution of Senedd Cyrmu.<br> (2) The first set of regulations made under subsection (2) must limit borrowing to a net debt to asset value ratio of no more than 25 per cent.”

<p>This amendment would limit the amount the Welsh Ministers or transferee may borrow by regulations subject to the affirmative procedure for statutory instruments.</p>

4

Clause 1, page 3, line 24, at end insert—<br> <b>“52B</b> <b>Crown Estate: further provision</b><br> (1) The power of the Treasury under section 52A(1) must be exercised by the Treasury so that the transfer date is no earlier than 3 years after the passing of the Crown Estate (Wales) Act 2025 and no later than 7 years after the passing of that Act.<br> (2) In the period between the passing of the Crown Estate (Wales) Act 2025 and the transfer date, the Commissioners must carry out their functions in relation to—<br> (a) property, rights or interests in land in Wales, and<br> (b) rights in relation to the Welsh zone,<br> <span class="wrapped">in accordance with section 5A of the Crown Estate Act 1961 (special provision for the Crown Estate in Wales).”</span>

<p>The purpose of this amendment is to delay the transfer of the functions in respect of the Crown Estate in Wales for a period of 3-7 years after the passing of the Act, but until the functions are transferred to require the Crown Estate Commissioners to engage with Welsh Ministers.</p>

5

Clause 1, page 4, line 20, at end insert—<br> “(c) confer on the Welsh Ministers or the body that may be nominated as the transferee power to enter into an agreement with the Crown Estate Commissioners for the performance of specified matters in relation to management or investments of the Welsh Crown Estate on behalf of Welsh Ministers or the body nominated as the transferee.”

<p>This amendment permits agreements to be entered into for the Crown Estates Commissioners to exercise specified management and investment functions on behalf of Welsh Ministers.</p>

7

Clause 1, page 4, line 33, at end insert—<br> “(12) In the Crown Estate Act 1961, after section 5 insert—<br> <b>“5A</b> <b>Special provision for the Crown Estate in Wales</b><br> (1) Until the transfer date for the Crown Estate in Wales as provided for in sections 52A and 52B of the Wales Act 2017 (The Welsh Crown Estate and Crown Estate: further provision), and notwithstanding anything in the foregoing provisions of this Act, subsections (2), (3) and (4) have effect.<br> (2) It is the duty of the Commissioners in exercising their powers under this Act in relation to property, rights or interests in land in Wales, and rights in relation to the Welsh zone as defined in section 52A of the Wales Act 2017 (the Welsh Crown Estate) to—<br> (a) take into account, but not be bound by, the views of Welsh Ministers as communicated to them by Welsh Ministers, and<br> (b) provide Welsh Ministers with all such information as Welsh Ministers may require in relation to the Welsh Crown Estate.<br> (3) The reports and accounts of the Commissioners as published each year must separately identify—<br> (a) the capital and income attributable to the Welsh Crown Estate,<br> (b) the direct expenses attributable to the Welsh Crown Estate,<br> (c) the reasonable amount of central costs and other expenses attributable to the Welsh Crown Estate, and<br> (d) the sum which represents the proportion of the consolidated revenue account distributable to the Consolidated Fund which is attributable to the Welsh Crown Estate.<br> (4) The sum specified in subsection (3)(d) must be paid directly by the Commissioners to the Welsh Consolidated Fund.””

<p>This amendment would require the Crown Estate Commissioners to engage with Welsh Ministers until the functions are transferred to the Crown Estate in Wales (so that there can be an orderly and planned transfer), to publish financial information about the Crown Estate in Wales, and to pay the net income from the Crown Estate in Wales to the Welsh Consolidated Fund.</p>