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Banking Bill

My Lords, it is indeed a sunset clause, albeit of a limited kind, which I think is needed in a case like this. There are so many different powers in the Bill that the Government, or various arms of the Government, may wish to pursue, that putting a termination date on this part of it seems necessary. Personally, I would have accepted a period of three years rather than two, given the speed at which things change. However, the Bill is unusually complex and has been put together, at great speed, against a background of changing conditions in the marketplace and in activities that are covered by it. While I would be content with a slightly longer period than two years, some termination and restraint on the timing is necessary. Therefore, I favour the amendment.