Proceeding contribution from Lord Myners (Labour) in the House of Lords on Tuesday, 20 January 2009. It occurred during Committee of the Whole House (HL) and Debate on bill on Banking Bill.
Banking Bill
The company which the noble Viscount refers to as the newco—the transferee—would have certain duties of care to the transferor, and those duties are captured by the clauses on continuing relationships and the reasonableness of the price paid. This is certainly not designed to allow the transferee in any way to abuse the transferor. There is a duty, but it is not a legislative duty beyond the one relating to reasonable consideration for services provided. There is a duty, but it is not a legislative duty beyond the one related to reasonable consideration for services provided.
Secondary information
- Type
- Proceeding contribution
- Reference
- 706 c1561
- Session
- 2008-09
- Chamber / Committee
- House of Lords chamber
- Subjects
- Conditions of employment Contracts Compensation Codes of practice Company law Companies Directors Administration Assets Bank services Banks Delegated legislation Bank of England Finance Liability Financial institutions Insolvency Financial Services Authority Holding companies Foreign companies Private sector Pay Powers Workplace pensions Property transfer Public sector Partnerships Nationalisation Stocks and shares Taxation Treasury British Bankers' Association Financial Services Compensation Scheme National Loans Fund Statutory instruments Liquidation committees
- Legislation
- Banking Bill 2007-08 to 2008-09
- Link
- View this Proceeding contribution on www.publications.parliament.uk
Librarians' tools
- Timestamp
- 2024-01-26 18:50:42 +0000
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- http://data.parliament.uk/pimsdata/hansard/CONTRIBUTION_520834
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