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Proceeding contribution from Lord Myners (Labour) 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

Amendment 174G 174G: After Clause 227, insert the following new Clause— ““Investment banks: Regulations: procedure (1) Investment bank insolvency regulations shall be made by statutory instrument. (2) Investment bank insolvency regulations may not be made unless a draft has been laid before and approved by resolution of each House of Parliament. (3) The Treasury must consult before laying draft investment bank insolvency regulations before Parliament. (4) If the power to make investment bank insolvency regulations has not been exercised before the end of the period of 2 years beginning with the date on which this Act is passed, it lapses. (5) An order under section (Investment banks: Definition)(6)— (a) shall be made by statutory instrument, and (b) may not be made unless a draft has been laid before and approved by resolution of each House of Parliament.”” Amendment 174GA, as an amendment to Amendment 174G, not moved. Amendment 174G agreed.

Secondary information

Type
Proceeding contribution
Reference
707 c93-4 
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