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Banking Bill

My Lords, I am grateful to the noble Lord, who is particularly well qualified in this area, for recognising my potential deficiency. I hope he will hear me out with the general argument. I have taken on board the point he made, and we have looked at this with the greatest care. I indicated that this legislation has to be seen within the framework of the law that he quoted. We are trying to identify a specific area with regard to the law and how it will act. That is why the constraint identified by the noble Lord, which I recognise, accept in full and put into this context, is not sufficient and would not have been sufficient, had I expressed it in these terms, for the other anxieties that were voiced on Report and in our discussions. That is why I hope he will allow me to bring into play a rather broader argument. I hope that, at the end of it, I will have reassured him on the points that he has raised.