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Proceeding contribution from Lord Lamont of Lerwick (Conservative) in the House of Lords on Tuesday, 13 January 2009. It occurred during Committee of the Whole House (HL) and Debate on bill on Banking Bill.

Banking Bill

I wish to ask the noble Lord a question on that point. I am sure that he will know the answer immediately and I attempt only to get clarification, but why is it that in Clause 7(6) the special resolution objectives are not relevant to conditions 1 and 2, the threshold conditions and timing and other relevant circumstances respectively? I appreciate that the objectives listed in Clause 4(4) to (8) are rather general but I do not understand why they are excluded. I appreciate that the noble Lord seeks narrow action as opposed to background economic conditions but they seem relevant.

Secondary information

Type
Proceeding contribution
Reference
706 c1132-3 
Session
2008-09
Chamber / Committee
House of Lords chamber
Subjects
Disclosure of information Codes of practice Accountability Administration Assets Bank services Banks Credit unions Building societies Bank of England Deposits Financial institutions Insolvency Legislation Government assistance Financial Services Authority Financial markets Foreign companies Protection Public sector Public expenditure Nationalisation Terrorism Regulation Shareholders Treasury Financial Services Compensation Scheme Northern Rock Freezing of assets
Legislation
Banking Bill 2007-08 to 2008-09
Link
View this Proceeding contribution on www.publications.parliament.uk