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Banking Bill

My Lords, the amendment inserts the word ““independent”” into Clause 54(2). This clause deals with the use of an independent valuer for a compensation scheme order. An independent valuer is to be appointed by a person appointed by the Treasury. In Committee, I sought further details on the exact independence that would be sought for these independent valuers and tabled an amendment to make the relevant order spell that out. The Minister's response was that the valuer would be appointed by an independent person, or an independent panel. That would clearly go some way to ensuring that a genuinely independent valuer was appointed, but the Bill does not say that. So I am returning to the issue on Report with a simple amendment to make the independent valuer appointed by an independent person so that independence can be seen to be achieved. I beg to move.