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Banking Bill

Amendment 31 31: After Clause 235, insert the following new Clause— ““Review (1) The Treasury shall arrange for a review of the effect of any investment bank insolvency regulations. (2) The review must be completed during the period of 2 years beginning with the date on which the regulations come into force. (3) The Treasury shall appoint one or more persons to conduct the review; and a person appointed must have expertise in connection with the law of insolvency or financial services. (4) The review must consider, in particular— (a) how far the regulations are achieving the objectives specified in section 233(3), and (b) whether the regulations should continue to have effect. (5) The review must result in a report to the Treasury. (6) The Treasury shall lay a copy of the report before Parliament. (7) If a review recommends further reviews— (a) the Treasury may arrange for the further reviews, and (b) subsections (3) to (6) (and this subsection) shall apply to them.”” Amendment 31 agreed. Bill passed and returned to the Commons with amendments.