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Written question asked by Teresa Pearce (Labour) on Thursday, 15 December 2011, in the House of Commons. It was due for an answer on Tuesday, 20 December 2011. It was answered by Mark Hoban (Conservative) on Tuesday, 20 December 2011 on behalf of the Treasury.

Financial Services Bill

Question
To ask the Chancellor of the Exchequer when he expects to publish the draft memorandum of understanding between each of the bodies in the UK regulatory structure proposed in the provisions of the draft Financial Services Bill.
Answer

The draft Financial Services Bill, published in June, provides for a number of different statutory memorandums of understanding (MOUs). The Government intend to make drafts of these MOUs available during the passage of the Bill in order to aid Parliament's scrutiny of the draft legislation.As the Chancellor of the Exchequer, my right hon. Friend the Member for Tatton (Mr Osborne), explained to the Joint Committee on the Draft Bill on 15 November 2011, before publishing a draft of the crisis management MOU between the Treasury and the Bank of England, the Government will consider:"first, the recommendations of the Treasury Select Committee in its report into the accountability of the Bank of England (published on 8 November); and""second, any relevant recommendations made by the Joint Committee itself in its report published on 19 December."

Secondary information

Type
Written question
Reference
87687; 537 c1156W
Session
2010-12
Legislation
Draft Financial Services Bill
Link
View this Written question on www.publications.parliament.uk