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Proceeding contribution from Lord Barnett (Labour) 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 am sorry to revert back to it, but on the question of the difference between an arm's-length and a hands-on role, I did not cite the rest of the draft code, which goes on to state that there be a business plan setting out how the directors intend to operate the bank and that that plan will include a commercial strategy. Given the arm's-length procedures, who will devise that commercial strategy: the Government, the Treasury, or who? Who is managing the bank?

Secondary information

Type
Proceeding contribution
Reference
706 c1166-7 
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