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Banking Bill

As I indicated, we were pressed on this in the other place and we sought to establish that we have not introduced the clause in order to give an overriding power to amend and disregard other aspects of the Bill. I am seeking to reinforce that assurance. The special resolution regime and its safeguards are set out in this legislation. When an emergency arises in a complex legal environment, it may be necessary for the authorities to act in accordance with this Bill, which will then be an Act, even if it runs counter to other legislation that was conceived in rather more normal times. That is the nature of the emergency of failing financial institutions, and it forms the basis of this legislation. I am sure that the noble Lord, on principle, supports it.