Proceeding contribution from Mark Hoban (Conservative) in the House of Commons on Friday, 19 October 2007. It occurred during Debate on bill on Building Societies (Funding) and Mutual Societies (Transfers) Bill.

Building Societies (Funding) and Mutual Societies (Transfers) Bill

The hon. Gentleman might be right, but we need some clarity. From reading the explanatory notes, I am not sure what the limits will be to the operation of the Treasury's powers. If his interpretation is right, my concern is met, but that is not clear at the moment. An EEA financial mutual might choose not to merge with a UK financial mutual because it fears that the provisions that the Treasury can make under clause 3(1) could impede its future pan-European operations.

Secondary information

Type: Proceeding contribution
Reference: 464 c1077
Session: 2006-07
Chamber / Committee: House of Commons chamber
Subjects: Channel Islands Fees and charges Insurance companies Isle of Man Financial Services Authority Mergers Mutual societies Subsidiary companies European economic area
Legislation: Building Societies (Funding) and Mutual Societies (Transfers) Bill 2006-07; Financial Mutuals Arrangements Bill 2006-07
Link: View this Proceeding contribution on www.publications.parliament.uk

Building Societies (Funding) and Mutual Societies (Transfers) Bill

Secondary information

Librarians' tools