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Proceeding contribution from Lord Blackwell (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

The Bill states: "““Objective 5 is to avoid interfering with property rights””." Clause 4(9) states: "““The order in which the objectives are listed … is not significant; they are to be balanced as appropriate in each case””." In considering this amendment, we need to understand whether the objective, "““to avoid interfering with property rights in contravention of a Convention right””," is merely something to be balanced against other objectives or whether it has an absolute priority. Are the Government saying that if they believe it appropriate to override the convention right in order to protect funds, Objective 5 can be dismissed or put to one side? Is it just another objective to be balanced or does it have an absolute right of primacy?

Secondary information

Type
Proceeding contribution
Reference
706 c1142-3 
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