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Banking Bill

Does experience arising from Northern Rock, which has now had a certain run, and with Bradford & Bingley, with a much shorter run, throw some light on the need to make the Bill so much more complicated than the Northern Rock Act, which relied on itself and the existing body of legislation? As the Minister just reminded us, the clause is an enabling clause allowing powers to be used but only when they are needed and by secondary legislation. My question, which relates to the argument made by my noble friend Lord James, is: are we absolutely sure that we need all this additional law in the light of experience to date with failing banks?