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Banking Bill

My Lords, I thank the Minister for setting out the Government’s view of Clause 71 in such detail. I also thank him for agreeing, following the intervention of my noble friend Lord Northbrook, to take the point away and look at it again. I am sure that the Minister is aware that I had no intention of wrecking the clause with the amendment I moved. It was designed to reflect unease that we had not reflected the difference between what we need to do to effect a normal commercial transaction—I completely support the need to do that, as I said in Committee—and giving an ability to change the rights of employees. I am sure there is that possibility in the Bill. Against that, there is the Government’s clear statement of intent, repeated again today. It is important, although such a statement would not have any bearing on the interpretation of the clause if the clause were clear, which it is. While it is helpful to have the Minister’s statement of intent, I am not sure it affects the legal construction, which is why it would be helpful if the Minister would look to see whether any reassurance to employees with accrued rights or pensioners could be placed in the Bill so that we are not simply having to rely on the interpretation of convention rights. While the convention is an overarching set of rules that apply to everything, it is also helpful to reflect the important issues that arise from convention rights in the legislation we pass in this House, so that we are clear in the way that we approach it. I look to the Minister to see if he can do anything by Third Reading. I beg leave to withdraw the amendment. Amendment 49 withdrawn.