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Banking Bill

My Lords, I am grateful to the noble Lord for seeking to be constructive but I have illustrated the limited context in which these powers are to be used and why we need to go beyond ““necessary”” to produce an order which is better for the parties and is in the public interest, but which may not in law be justified solely by the concept of necessity. I do not have a great deal further to add except to make the following obvious point. The Government have indicated that we still have capacity to introduce regulation with regard to the code of practice. We still have Third Reading in which to debate these issues further. Of course, we are clear that strong feelings have been expressed on this matter around the House. I merely return to the fundamental point. The Government included this clause in this way because it is absolutely central to a specific group of powers in specific circumstances. Therefore, given such limited circumstances, it would not be right to suggest that this legislation opens the door to an abuse of power by the Executive.