Proceeding contribution from William Cash (Conservative) in the House of Commons on Tuesday, 19 February 2008. It occurred during Debate on bill and Committee of the Whole House (HC) on Banking (Special Provisions) Bill.
Banking (Special Provisions) Bill
The hon. Gentleman might not know this, but in the draft order to which my hon. Friend the Member for Tatton (Mr. Osborne), the shadow Chancellor, referred there is a remarkable provision that says that no director of Northern Rock shall be liable for any act or omission of theirs that occurs while Northern Rock is wholly owned by the Treasury and, accordingly, no proceedings may be brought. Would the hon. Gentleman and his party approve of a provision that exempted directors of Northern Rock—being paid more than £1 million a year—from any liability for anything they do as directors?
Secondary information
- Type
- Proceeding contribution
- Reference
- 472 c193
- Session
- 2007-08
- Chamber / Committee
- House of Commons chamber
- Subjects
- Compensation Accountability Audit Banks Competition Building societies Bank of England Liability EU law Government assistance Financial Services Authority Economic situation Property transfer Mortgages Loans Staff Office of Fair Trading Nationalisation Regulation Stocks and shares Shareholders Takeovers Treasury Virgin Group Business plans 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 22:56:16 +0000
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