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Sale of Student Loans Bill

With this it will be convenient to discuss the following amendments: No. 6, page 2, line 11, at end insert— ‘(6A) Transfer arrangements may not be made with an organisation underwritten by the Government.’. No. 11, page 2, line 13, at end insert— ‘(8) In advance of entering into transfer arrangements the Secretary of State shall— (a) examine the prevailing market conditions and ensure that a competitive market for the loans has been generated; (b) provide the market with full information about the loan book in order that the assets can be efficiently valued; (c) ensure that there has been a genuine transfer of risk from the public accounts to the private sector; and (d) assess the proceeds that look likely to be achieved in the transaction, using full and clear market information and a comparison with keeping the loans on the Government books, in terms of both likely income flows and levels of risk. (9) The Secretary of State shall make a written statement on expenditure incurred in connection with each transfer arrangement.’. No. 7, clause 5, page 4, line 9, leave out ‘a person acting on behalf of a loan purchaser’ and insert ‘the Student Loans Company’. No. 8, page 4, line 15, leave out ‘another agent’ and insert ‘the Student Loans Company’.