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Financial Services and Markets Bill [HL]

Moved by

Baroness Neville-Rolfe

93: After Clause 47, insert the following new clause—

“Use of powers

The Treasury must publish and lay before Parliament a report setting out how the powers conferred by the following provisions are expected to be used—

(a) section 1;

(b) Schedule 1;

(c) section 13;

(d) Schedule 2;

(e) section 14;

(f) section 37;

(g) section 46.”

Member's explanatory statement

This amendment and others in the name of Baroness Neville-Rolfe would require the Treasury to provide Parliament with information on the intended use of certain significant delegated powers before bringing them into force for the first time, including powers relating to consumer credit, payment systems regulation, anti-money laundering supervision, overseas recognition regimes and cryptoassets.