Proceeding contribution from Rob Marris (Labour) 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
Northern Rock got into difficulty because it had a rubbish business model. Sticking with clause 12, subsection (3)(d) will enable powers to deal with"““exempting directors of any relevant deposit-taker, or of any group undertaking of any relevant deposit-taker, from liability in connection with acts or omissions in relation to the deposit-taker or undertaking””." Will my right hon. Friend assure me that those powers will not be invoked to let the directors of Northern Rock who got it into difficulty off the hook should there be any legal liability for the incompetence of those directors?
Secondary information
- Type
- Proceeding contribution
- Reference
- 472 c274
- 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 23:06:58 +0000
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