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Banking Bill

To clarify, the Minister says that the Government want the power to terminate without notice. Does that mean that the director concerned would be denied access to the employment tribunal to argue his case, or indeed to the courts generally—access which he has under existing rights? I understand how the Government might want to do this as a technical act, but does that mean that they can in effect write out rights that already exist? That is the important distinction that I am trying to tease out. I have not objected to the clause per se; I seek to see whether the clause in effect denies individuals rights of recourse to law that would otherwise exist. In another failing organisation where a chief executive is taken out at no notice, it is up to him whether he tries to pursue a case for wrongful dismissal or for payment of contractual rights. Are we taking ourselves out of the normal situation and creating wholly new sorts of rights or denying rights to people?