Economic Activity of Public Bodies (Overseas Matters) Bill enters Committee Stage

The Economic Activity of Public Bodies (Overseas Matters) Bill, also known as the Boycotts, Divestments and Sanctions Bill  has entered Committee Stage after its second reading in the House of Lords on 20th February 2024. The Bill seeks to ban LGPS administering authorities from making investment decisions influenced by political and moral disapproval of foreign state conduct, except where this is required by formal Government legal sanctions, embargoes, and restrictions.  The Local Government Association (LGA) has issued technical briefings in response to each stage and the most recent briefing issued after the second reading in the House of Lords can be found here. The Secretariat will continue to evaluate amendments put forward and will suggest amendments that would improve the Bill if no similar amendments are tabled. The Bill team have indicated their expectation that Royal Assent will be attained swiftly once the Lords proceedings are complete. A fuller update on the Bill’s activity since June 2023 can be found in the paper for Item 5 at the Board meeting held on 11th March 2024.