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Regulatory Enforcement and Sanctions Bill [HL]

My Lords, I thank the noble Baroness, Lady Wilcox, for giving way so early in her remarks. I intervene with a view to assisting the House on this matter. It may help the House to know that, when I respond, I will propose making a statutory provision for a review of the LBRO’s effectiveness in three years—two years before the proposed date in the sunset clause. This provision would be similar to that in Part 3 of the Bill. We believe that it would be a more tailored approach, which would achieve the aims intended by the noble Baroness and noble Lords but without the uncertainties and unintended consequences that the sunset clause would bring.