Proceeding contribution from Lord Newby (Liberal Democrat) in the House of Lords on Thursday, 18 March 2010. It occurred during Debates on delegated legislation on Building Societies (Insolvency and Special Administration) (Amendment) Order 2010.
Building Societies (Insolvency and Special Administration) (Amendment) Order 2010
My Lords, we support these two orders. I am afraid that I have not had the assiduity of the noble Baroness in that I have not looked at the Treasury website, but I was pleased to see that consultation had taken place over a relatively relaxed period and that it had been taken very seriously. There is just one area where I have a question and it relates to the extension of the financial assistance provision to cover another central bank of a member state of the European economic area or the European Central Bank. Can the Minister explain the circumstances in which the Government envisage that that provision might be used? Secondly, can he say whether in this respect this order merely matches what is already on the statute book in respect of banks?
Secondary information
- Type
- Proceeding contribution
- Reference
- 718 c284-5GC
- Session
- 2009-10
- Chamber / Committee
- House of Lords Grand Committee
- Subjects
- Building societies Bank of England Insolvency Government assistance Northern Ireland Pension Protection Fund European Central Bank
- Legislation
- Building Societies (Insolvency and Special Administration) (Amendment) Order 2010
- Link
- View this Proceeding contribution on www.publications.parliament.uk
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