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Proceeding contribution from Lord Higgins (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

Parliament is always extremely reluctant to give the Executive powers that can be exercised retrospectively. I still have a little difficulty envisaging how these retrospective powers might be used. The Minister appeared to refer to Northern Rock and Bradford & Bingley, and then, I think, recanted and said that they were not an example of a retrospective use of the powers. Will he give us an example of how these powers might be needed and might be used? Another point relates to an individual working in a bank who has taken decisions on the basis of the law at the time. If the law is changed retrospectively, could the individual find that he has committed a criminal offence? Parliament has always been very reluctant to do anything that makes people liable criminally. Can the Minister be sure that individuals will not be affected in the way that I have described?

Secondary information

Type
Proceeding contribution
Reference
706 c1598 
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