---

Pensions Bill

The problem with anything but an absolute ban is that it is difficult to see how you would put the controls into a body that we are seeking to make as independent as possible. There might be a general guidance if this was within the discretion of the Secretary of State, and that may be one way forward. But since we are removing it from the discretion of the Secretary of State after the initial setting up, I think it is difficult to see any device which achieves the objectives I set out, other than an absolute ban.