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Proceeding contribution from Baroness Noakes (Conservative) in the House of Lords on Monday, 26 January 2009. It occurred during Committee of the Whole House (HL) and Debate on bill on Banking Bill.

Banking Bill

I hear what the Minister says, and I shall not go into the question of the Government using those powers in the context that he described. Is he saying that the Government would not use these powers to instruct a payment system to keep within that payment system a bank that would be required to leave the system under the terms of that system? I gave the example of a bank that failed to satisfy financial conditions and would therefore be deprived of ongoing membership—which I understand is a normal term of payment systems. Are the Government saying that these direction powers would not be used in such an instance? It is that kind of instance that is causing the problem.

Secondary information

Type
Proceeding contribution
Reference
707 c43 
Session
2008-09
Chamber / Committee
House of Lords chamber
Subjects
Disclosure of information Compensation Codes of practice Audit Assets Debts Bank services Banks Delegated legislation Bank of England Bank notes Deposits Credit rating Housing Finance Fees and charges Liability EU law Investment Financial institutions Insolvency European communities Government assistance Financial Services Authority Financial markets Foreign companies Private sector Membership Public expenditure Property Parliamentary scrutiny Loans Post offices Monetary policy Statistics Regulation Stocks and shares Valuation Treasury Financial Services Compensation Scheme National Loans Fund Northern Rock Financial Stability Committee Sunset clauses
Legislation
Banking Bill 2007-08 to 2008-09
Link
View this Proceeding contribution on www.publications.parliament.uk