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Proceeding contribution from Lord Davies of Oldham (Labour) in the House of Lords on Wednesday, 24 June 2009. It occurred during Debates on delegated legislation on Dunfermline Building Society Compensation Scheme, Resolution Fund and Third Party Compensation Order 2009.


Dunfermline Building Society Compensation Scheme, Resolution Fund and Third Party Compensation Order 2009

In the light of these questions, I shall learn to sit down more quickly. On the latter point, I will have to write to the noble Lord. On the initial point, though, the provision in paragraph 3 of Schedule 2 of the compensation order is intended to limit any compensation to be paid in respect of the turning off of termination rights, and it was included in both Northern Rock and Bradford & Bingley compensation scheme orders. We have therefore already addressed ourselves to these issues in previous orders, and I have nothing to add to that with regard to this one. Motion agreed.


Secondary information

Type
Proceeding contribution
Reference
711 c472GC 
Session
2008-09
Chamber / Committee
House of Lords Grand Committee
Subjects
Compensation Banks Exemptions Property transfer Loans Nationalisation Treasury Financial Services Compensation Scheme Dunfermline Building Society Nationwide Building Society
Legislation
Dunfermline Building Society Compensation Scheme, Resolution Fund and Third Party Compensation Order 2009
Amendments to Law (Resolution of Dunfermline Building Society) (No. 2) Order 2009
Link
View this Proceeding contribution on www.publications.parliament.uk