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Proceeding contribution from Baroness Noakes (Conservative) 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

Perhaps the Minister can explain an issue that I tried to tease out when I spoke on clause stand part. Subsection (3) states: "““In particular, an order or instrument may—""““(a) modify any rights and liabilities””." I heard what the Minister said about transferring accrued rights and ensuring that the trustees do not get in the way and about this being a rapid exercise—although I have never found that dealing with pension schemes is a rapid process, whatever instrument is used—but he is ignoring the fact that Clause 71 appears to contain powers to do the things that my noble friends have been asking him about.

Secondary information

Type
Proceeding contribution
Reference
706 c1574 
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