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Banking Bill

Amendment 110 110: Before Clause 254, insert the following new Clause— ““Review of Act (1) The Treasury shall appoint an independent person to conduct a review of the operation of this Act no later than 3 years after it comes into effect. (2) The review is not to be concerned with the general policy to which the Act gives effect. (3) The person conducting the review must seek the views of all persons who appear to him to have relevant knowledge of the workings or effect of the Act. (4) On completion of the review, the person conducting it must make a written report to the Treasury— (a) setting out the result of the review, and (b) making such recommendations (if any) as he considers appropriate. (5) The written report must be received by the Treasury no later than 4 years after the Act comes into effect. (6) A copy of the report must be— (a) laid before each House of Parliament, and (b) published in such manner as the Treasury consider appropriate. (7) ““Independent”” means appearing to the Treasury to be independent of the relevant authorities as defined in section 4(3).””