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Banking Bill

The Minister said that Clause 39 sets out everything that could possibly be done, but it does not replicate what happens in ordinary commercial transactions. I am content to withdraw the amendment but the Minister has to understand that effectively the Government will be left on the record as saying that risks in transfers involving foreign property will lie completely with transferees without any possibility of recourse. Clause 39 is just about making lots of efforts—that is all it does. Once the efforts have been made and they do not work, it is down to the transferee. If the Government want that left on the record for all to see, I am entirely happy with that, but I just say to them that, where foreign property is involved, those using these powers will be in for a very hard time with any lawyer on the other end.