Parliamentary Search

Proceeding contribution from Lord Mackay of Clashfern (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

Is it not the case that Clause 8 provides powers for the Bank of England and Clause 9 powers for the Treasury? In both cases, the preliminary conditions of Clause 7 must be held to be satisfied in the view of the Financial Services Authority. Will the noble Lord help me with regard to the relationship between Objective 1 and Objective 2? Do the financial systems of the United Kingdom include the banking system of the United Kingdom? I would have thought that they do. If some financial systems are not part of the banking system, is not confidence in these also important, because confidence appears to be related only to the banking system? I would be glad of an explanation of the way in which these words have been chosen.

Secondary information

Type
Proceeding contribution
Reference
706 c1145 
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