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Banking Bill

I have absolutely no problem with requiring the code of practice to include sensible provision about the situation of directors. In particular, on the point just raised by my noble friend Lord Blackwell, some clarification would be very helpful. In fact, it would be necessary before anybody took up the role as a director of one of these companies. I should like to raise a point parallel to that raised by the noble Lord, Lord Newby, about what the code of practice should contain in this regard. There is a discrepancy between the wording of Clause 13(3) and that of Clause 12(3). Clause 12(3) states: "““The code … must include provision about the management and control of bridge banks””," whereas Clause 13(3) refers just to the ““management of banks””. I was brought up when looking at draft legislation always to ask questions if there were discrepancies in the wording between apparently similar situations. It is not clear to me why it is necessary for the code to cover control of bridge banks but for it to be omitted from Clause 13(3). There are many common features between temporary public ownership and control by a bridge bank. I should be grateful for clarification on that.