Proceeding contribution from Baroness Noakes (Conservative) in the House of Lords on Wednesday, 14 January 2009. It occurred during Committee of the Whole House (HL) and Debate on bill on Banking Bill.
Banking Bill
The Minister has not set my mind at rest on how the Government might seek to use the concept of private sector purchaser. He has agreed to take the matter away, so we must let him consider it before Report but I do not think that it is simply a question, as my noble friend and my noble and learned friend may have suggested, of changing the heading to Clause 11. The issue starts in Clause 1(3), which states: "““The three ‘stabilisation options’ are— (a) transfer to a private sector purchaser””." The Bill may be spinning a line that that is about selling on to a private sector purchaser. We have had discussions on other parts of the Bill about whether it is using language that is open and honest. We may well have come across another example of that. When the Minister goes back to discuss it, I hope that he will not just discuss changing the heading to Clause 11, but discuss being honest about language throughout. Then we may have a more honest debate on the content but, for today, we have probably done it justice and I beg leave to withdraw the amendment. Amendment 33 withdrawn. Clause 11 agreed.
Secondary information
- Type
- Proceeding contribution
- Reference
- 706 c1242
- Session
- 2008-09
- Chamber / Committee
- House of Lords chamber
- Subjects
- Contracts Codes of practice Accountability Directors Assets Bank services Banks Competition Delegated legislation Bank of England Employment Liability EU law Financial institutions Insolvency Private sector Protection Pay Public appointments Property transfer Public sector Parliamentary scrutiny Staff Nationalisation Shares Taxation Shareholders Treasury
- Legislation
- Banking Bill 2007-08 to 2008-09
- Link
- View this Proceeding contribution on www.publications.parliament.uk
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