Proceeding contribution from Lord Campbell of Alloway (Conservative) 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, that is not, as I hope that the noble Lord will agree, what the Government will approve. What my noble friend just said is relevant to whether there has been a fundamental distortion of competition within a financial service in this country. It is not a precedent for the Government to give an assurance; this is a matter for the Commission and for the European Court of Justice. There will be, if it so finds, fines and orders for compensation; those will all have to be paid, not by the Government but by the taxpayer.
Secondary information
- Type
- Proceeding contribution
- Reference
- 699 c195
- 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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- 2023-12-15 23:16:59 +0000
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