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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

Amendment 158 158: Before Clause 167, insert the following new Clause— ““Compensation limits After section 213 of the Financial Services and Markets Act 2000 (compensation scheme) insert— ““213B Compensation payable to depositors (1) Each depositor will be entitled to receive from the scheme manager in respect of each bank brand a sum which is the lower of— (a) the deposit protection amount; and (b) their gross balance held by the person. (2) The ““deposit protection amount”” is £50,000. (3) The Treasury may by order amend the figure in subsection (2). (4) The Treasury may by order either in general or specifically determine what constitutes a bank brand. (5) An order under this section may not be made unless a draft statutory instrument containing such an order has been laid before, and approved by a resolution of, each House of Parliament.””””

Secondary information

Type
Proceeding contribution
Reference
706 c1655 
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