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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

The noble Baroness has denied me the right to reach out to plc for yet another precedent. Boards of directors of companies and charities are engaged in providing advice, facilitating the formation of decisions, challenging recommendations coming from the executive and monitoring implementation. It will be a properly effective body comprising high-quality executive directors—the Bank of England has always had the good fortune of recruiting people of extraordinary talent and ability—and independent directors of the court. I believe that such a body would have no more difficulty in combining the role of advice and monitoring than would be the case with the trustees of an endowment, the board of directors of an NGO or the board of a non-plc.

Secondary information

Type
Proceeding contribution
Reference
707 c120-1 
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