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Banking Bill

Amendment 81 81: After Clause 228, insert the following new Clause— ““Transparency: financial assistance (1) The Treasury shall prepare and lay before each House of Parliament a quarterly report in respect of— (a) financial assistance paid out under section 227(1); (b) loans made under section 226; (c) guarantees, indemnities or similar arrangements which may result in amounts being paid out under section 227(1). (2) The Treasury shall ensure that the report contains sufficient detail to enable Parliament to understand the actual and potential commitment of public money to financial assistance and the Treasury may summarise the individual items which fall to be disclosed in a report in whatever way they consider appropriate in order to assist Parliament in that regard. (3) If the Treasury consider that certain information should not be disclosed in a report on public interest grounds, a report may omit that information until such time as the Treasury consider that the public interest is no longer affected.””