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Banking Bill

My Lords, my name is on the Marshalled List and I strongly support what my noble friend Lord Goodlad and the noble and learned Lord, Lord Morris of Aberavon, said, as well as what my noble friend Lord Howard of Rising said in opening this matter. Clause 75(3) says: "““An order under subsection (2)(c) may make provision which has retrospective effect in so far as the Treasury consider it necessary or desirable””." I say yes to the ““necessary””. However, we have had no explanation of why the words ““or desirable”” are necessary or what they are intended to add. We have had no examples so far. I am a little surprised at why this retrospective power is thought necessary. I am prepared to go along with the fact that it probably is necessary, so long as it is subject to adequate parliamentary control; that question will be covered in our next group of amendments. To go beyond what is necessary is to go beyond the traditions of either House of Parliament. A useful work, Craies on Legislation, ninth edition, has recently been updated in a comprehensive and helpful form by one of the parliamentary counsel, Mr Daniel Greenberg. He sets out pretty well all the examples that one can find of retrospection. They are always, quite rightly, tightly confined. In 1999, the noble Baroness, Lady Hollis of Heigham, rightly said for this Government that, "““retrospective legislation should be avoided wherever possible””.—[Official Report, 13/10/99; col. 502.]" The very broad terms of the clause are in danger of setting precedents and quite expressly depart from the doctrine of necessity. I very much look forward to hearing what the Minister says in response. The noble Lord, Lord Myners, is in the Chamber and I can think of few people with a better understanding of this. I do not know whether he is answering this debate—I see him modestly shaking his head—but if he does not understand, I do not know who in the Government does. No doubt the Minister who replies will enlighten us.