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Financial Services Bill

I can express with a fairly high degree confidence that it relates to existing agreements. There is a large stock of credit and store cards in existence and while it would be a step forward to have new procedures for the flow of new cards, many of these agreements and cards have been in place for many years and I imagine that it would affect all agreements. Even as I stand here, my confidence that it affects all agreements has increased dramatically, and I will not now need to write to the noble and learned Lord, Lord Mackay of Clashfern, confirming that fact.