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Proceeding contribution from Lord Newby (Liberal Democrat) 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

In moving his amendment, the Minister used the phrases ““swift response”” and ““timely evaluation””. My understanding is that it took the Government the best part of eight months to appoint a valuer in this case. This seems extraordinary, given the general view that there is nothing to be valued anyway. Can the Minister explain the timetable? Why did it take so long to appoint a valuer in the first place? I do not think a valuer was appointed until November or possibly October, but certainly very late. Also, what are the Government’s current expectations about the process going forward?

Secondary information

Type
Proceeding contribution
Reference
707 c95 
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