Proceeding contribution from Lord Davies of Oldham (Labour) in the House of Lords on Wednesday, 20 February 2008. It occurred during Debate on bill on Banking (Special Provisions) Bill.
Banking (Special Provisions) Bill
My Lords, as I have indicated, there is a letter in the Library that spells out all the aspects regarding Granite, but I will emphasise the most significant point that the noble Lord has addressed and which is of concern. Granite has no claim on the assets of Northern Rock. What we are dealing with in this Bill is the position of Northern Rock, with Granite being entirely separate from that situation. As I have indicated, the assets of Northern Rock are greater than the liabilities incurred by the taxpayer. I realise that I am foreshortening—
Secondary information
- Type
- Proceeding contribution
- Reference
- 699 c192
- Session
- 2007-08
- Chamber / Committee
- House of Lords chamber
- Subjects
- Compensation Accountability Administration Assets Banks Competition Building societies Bank of England Freedom of information Liability Government assistance Financial Services Authority Public bodies Mortgages Loans Staff Nationalisation Lloyds TSB Shares Shareholders Takeovers Northern Rock Granite Sunset clauses
- Legislation
- Banking (Special Provisions) Bill 2007-08
- Link
- View this Proceeding contribution on www.publications.parliament.uk
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- 2023-12-16 02:17:23 +0000
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