---

Banking Bill (Money)

Lords amendment 20 removed from clause 36 a subsection that made provision for tax. The clause deals with the maintenance of continuity when a transfer is made under the powers in part 1. The subsection was not needed in the light of the detailed powers on tax in clause 74, and I am grateful to the Opposition spokesman in the other place for drawing that to our attention and tabling the necessary amendment. Lords amendments 51 to 53 and 95 respond to comments made by the Delegated Powers and Regulatory Reform Committee, widely supported in the other place, about the parliamentary scrutiny of secondary legislation. The amendments switch the order-making power in clause 74 to the affirmative procedure; again, we have had many debates about whether matters should come under the negative or affirmative procedures. We are happy to support the amendments and the view of the Delegated Powers and Regulatory Reform Committee in that respect.