Proceeding contribution from Baroness Noakes (Conservative) in the House of Lords on Monday, 16 March 2009. It occurred during Debates on delegated legislation on Bradford and Bingley plc Compensation Scheme (Amendment) Order 2009.
Bradford and Bingley plc Compensation Scheme (Amendment) Order 2009
Will the Minister return to the issue of not commenting on from whom information is not obtained? When he introduced the orders, he said that they would make an order if the valuer made a reasonable case for the information to be obtained. Is the Minister saying that the Government will not share with Parliament what that reasonable case is based on? Once an order is granted, presumably this could end up in court and it would be plain and evident in any event. I referred in my own remarks to the auditors and to one or more potential purchasers of Northern Rock, on which I understood—though from memory, so I cannot quote chapter and verse—that the Minister informed the House during the passage of the Banking Bill. I am just a little concerned about what this secrecy is all about, because it is not enough for the valuer to say, "I want to get information at will". The Government rightly referred to the fact that that request had to be reasonable. Therefore, they should be prepared to share with the House the nature of that request made to them.
Secondary information
- Type
- Proceeding contribution
- Reference
- 709 c22GC
- Session
- 2008-09
- Chamber / Committee
- House of Lords Grand Committee
- Subjects
- Compensation Banks Nationalisation Shares Shareholders Northern Rock Bradford and Bingley
- Legislation
- Bradford and Bingley plc Compensation Scheme (Amendment) Order 2009
- Northern Rock plc Compensation Scheme (Amendment) Order 2009
- Link
- View this Proceeding contribution on www.publications.parliament.uk
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