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Proceeding contribution from Lord Stewartby (Conservative) in the House of Lords on Monday, 2 February 2009. It occurred during Debate on bill on Banking Bill.

Banking Bill

My Lords, I add a brief word in support of what my noble friend has just said. There was a long period of public discussion about where the responsibility and authority lay in the case of Northern Rock. It was almost a classic case of what can happen when these matters are not thoroughly clarified. If this complicated legislation is to work effectively, it must be publicly understood where the ultimate responsibility lies. The point has been very well made, and I do not need to make it again, but if what is said in Amendment 2 is correct, there is no reason why what it says should not be in the Bill. If it is not correct, we have further questions to ask.

Secondary information

Type
Proceeding contribution
Reference
707 c485 
Session
2008-09
Chamber / Committee
House of Lords chamber
Subjects
Disclosure of information Compensation Codes of practice Consumers Accountability Directors Assets Bank services Banks Competition Delegated legislation Advisory services Building societies Bank of England Finance Human rights EU law Financial institutions Insolvency Government assistance Financial Services Authority Private sector Protection Pay Public appointments Pensions Public interest Property transfer Mergers Parliamentary scrutiny Pension funds Pension rights Nationalisation Regulation Shares Valuation Taxation Shareholders Treasury UK Financial Investments Financial Services Compensation Scheme Northern Rock Bradford and Bingley Hampton, Philip
Legislation
Banking Bill 2007-08 to 2008-09
Link
View this Proceeding contribution on www.publications.parliament.uk