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Regulatory Enforcement and Sanctions Bill [HL]

I am disappointed by that. Of course I accept that the Minister has said that guidance will be followed; I am sure that he means it and that it will happen like that. But after three, four or five years, our great debates here will be lost. He cannot bind his successors in any way. The promise of guidance does not meet the central issue, which is that there are concerns on all sides of the Committee about how well this body can work. It must show that it is meeting its objectives, functions and management. I do not see how the operation of the LBRO would be hindered by the fact that its annual report had to meet standards set out in the Bill, as opposed to mere guidance that might or might not be given in years to come. The Minister is slightly undermining the credibility of this organisation if it is not to have the highest possible standards of reporting and accountability. I understand that we can go no further here today, but I hope that the Minister and the Bill team will think carefully about this and the thrust of what I am seeking to achieve before we reach the next stage of the Bill. I beg leave to withdraw the amendment. Amendment, by leave, withdrawn.