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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

I thank the Minister for that response. Perhaps I may check one point. Is he saying that the Government have decided not to use the phrase ““just and equitable””, which is used in insolvency powers generally—the Minister mentioned the Financial Services and Markets Act 2000, but it is used in the Insolvency Act 1986 as well—and to replace it with the word ““fair””? Have they considered whether that is the right approach if they are trying to mirror what is in place in other legislation? The word may have the same meaning but, given that the phrase ““just and equitable”” has been considered by the courts in relation to regular insolvency, this may not be the right way forward. Whenever different language is used, lawyers generally think that something different is intended. That aspect is confusing. Is there anything that the Minister can say to help me on this?

Secondary information

Type
Proceeding contribution
Reference
706 c1638 
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