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Financial Services Bill

My Lords, Amendment 17 would amend Clause 2(5) so that minutes of the Council for Financial Stability which are withheld on the basis of commercial confidentiality or one of the other let-outs in Subsection (5) have to be published once the reasons for the non-publication cease to exist. We completely accept, as I made clear, that there are good reasons for non-publication of minutes, although we hope that the exemption will be used sparingly. I hope that the Government do not intend that such minutes, having qualified for exemption, will then be kept secret until the 30-year rule kicks in, or whatever shorter period is used in future. If the Government believe in transparency they will support this amendment. I beg to move.