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Banking Bill

I entirely agree with the intention to protect the use of FSCS funds, and that intention is behind some of the amendments tabled by the hon. Member for Fareham (Mr. Hoban). I hope that my comments today have been helpful for those who observe these things closely. We have included a number of safeguards over the use of such moneys, including, as I have mentioned, a cap and the independent verification of any resolution costs. However, the hon. Gentleman's amendments are not the right way to proceed to protect the use of such funds. I sense that he does not want to push this group of amendments to a Division, although, as he said earlier, he may want to push the principle of excluding from the Bill a power to establish pre-funding. That would be a serious mistake, but if he wants to vote on it, so be it. Question put and agreed to. Clause read a Second time, and added to the Bill.