Moved by

Lord Davies of Oldham

2: Clause 1, in subsection (1A)(b), leave out “major” and insert “significant”

Moved by

Lord Davies of Oldham

2: Clause 1, in subsection (1A)(b), leave out “major” and insert “significant”

My Lords, the Minister is to be congratulated on the way in which he has handled this Bill. In Committee, we raised several significant issues and pressed him to consider our arguments carefully. He has certainly done that and has brought back to the House Amendment 1, a position with...

My Lords, the Minister is to be congratulated on the way in which he has handled this Bill. In Committee, we raised several significant issues and pressed him to consider our arguments carefully. He has certainly done that and has brought back to the House Amendment 1, a position with...

My Lords, the Minister’s reply puts me a little on trust in that, until I read Hansard tomorrow, I am not too sure I will be able to follow the detail with sufficient accuracy. I was somewhat appalled as I was thrust back to my old tutorial days as a...

My Lords, the Minister’s reply puts me a little on trust in that, until I read Hansard tomorrow, I am not too sure I will be able to follow the detail with sufficient accuracy. I was somewhat appalled as I was thrust back to my old tutorial days as a...

My Lords, I have given hypothetical examples because we do not have an illustration of how the procedure works. Where a drafting error has been identified, leading to confusion and uncertainty as to whether the intended result has been achieved, it may be difficult to say that it is ““necessary””...

My Lords, I have given hypothetical examples because we do not have an illustration of how the procedure works. Where a drafting error has been identified, leading to confusion and uncertainty as to whether the intended result has been achieved, it may be difficult to say that it is ““necessary””...

Amendment 117 117: Clause 256, page 132, line 5, at end insert ““(in new terms)”” Amendment 117 agreed. Report received.

Amendment 117 117: Clause 256, page 132, line 5, at end insert ““(in new terms)”” Amendment 117 agreed. Report received.

My Lords, the purpose of Clause 254 is to provide the Government with the power to specify assistance that should or should not be included in the definition of financial assistance for the various purposes for which it is used in the Bill. The clause is therefore of considerable significance...

My Lords, the purpose of Clause 254 is to provide the Government with the power to specify assistance that should or should not be included in the definition of financial assistance for the various purposes for which it is used in the Bill. The clause is therefore of considerable significance...

My Lords, I am grateful to noble Lords who have spoken, and I am particularly pleased that my noble friend Lord Hoyle had support in the debate. I know that two noble Lords who would have spoken had trouble getting here, due to the weather, otherwise my noble friend would...

My Lords, I am grateful to noble Lords who have spoken, and I am particularly pleased that my noble friend Lord Hoyle had support in the debate. I know that two noble Lords who would have spoken had trouble getting here, due to the weather, otherwise my noble friend would...

My Lords, I do not come to the same conclusion as the noble Lord but I certainly follow him in terms of his objectives. If the noble Lord wanted an earnest of the Government’s intent, he will see the extent to which we have already provided for important parts of...

My Lords, I do not come to the same conclusion as the noble Lord but I certainly follow him in terms of his objectives. If the noble Lord wanted an earnest of the Government’s intent, he will see the extent to which we have already provided for important parts of...

My Lords, that work is ongoing and I do not have a figure that I can put in front of the noble Baroness at this stage. However, there will be Third Reading of the Bill in the very near future, and I will certainly ensure that by that point I...

My Lords, that work is ongoing and I do not have a figure that I can put in front of the noble Baroness at this stage. However, there will be Third Reading of the Bill in the very near future, and I will certainly ensure that by that point I...

My Lords, the noble Baroness has given me the minor task of surveying the Bill and identifying the various instruments that may be necessary, as well as having to give a quick summary of how they will work and how they will bridge the gap between the outgoing legislation and...

My Lords, the noble Baroness has given me the minor task of surveying the Bill and identifying the various instruments that may be necessary, as well as having to give a quick summary of how they will work and how they will bridge the gap between the outgoing legislation and...

My Lords, that is so. But the noble Baroness asked how this fits in in relation to the expiry powers of the 2008 Act, so it is a fairly tall order. But I will summarise the Government’s arguments. Parts 1 to 3 are essentially designed to provide a permanent and...

My Lords, that is so. But the noble Baroness asked how this fits in in relation to the expiry powers of the 2008 Act, so it is a fairly tall order. But I will summarise the Government’s arguments. Parts 1 to 3 are essentially designed to provide a permanent and...

My Lords, I am happy to say that it is not my amendment, so someone else must address it. Just for once, I leave the noble Viscount’s keen scrutiny of the Bill to the tender mercies of the noble Baroness when she gets her chance to reply. We have already...

My Lords, I am happy to say that it is not my amendment, so someone else must address it. Just for once, I leave the noble Viscount’s keen scrutiny of the Bill to the tender mercies of the noble Baroness when she gets her chance to reply. We have already...

My Lords, the amendment concerns transparency in payments from the National Loans Fund. Transparency about some of the powers provided in the clauses has been the subject of a great deal of debate both in Committee and today. We undertook in Committee to look at points made and reflect further....

My Lords, the amendment concerns transparency in payments from the National Loans Fund. Transparency about some of the powers provided in the clauses has been the subject of a great deal of debate both in Committee and today. We undertook in Committee to look at points made and reflect further....

Clause 228: National Loans Fund Amendment 80 80: Clause 228, page 115, line 43, at end insert— ““(6) Where money is paid in reliance on subsection (1) the Treasury shall as soon as is reasonably practicable lay a report before Parliament specifying the amount paid (but not the identity of...

Clause 228: National Loans Fund Amendment 80 80: Clause 228, page 115, line 43, at end insert— ““(6) Where money is paid in reliance on subsection (1) the Treasury shall as soon as is reasonably practicable lay a report before Parliament specifying the amount paid (but not the identity of...

My Lords, I am not surprised that the noble Baroness has probed this clause, because it is technical in nature. It clarifies an important provision in the Financial Services and Markets Act 2000, specifically Section 45(1)(c). This section gives the FSA the power to vary or cancel on its own...

My Lords, I am not surprised that the noble Baroness has probed this clause, because it is technical in nature. It clarifies an important provision in the Financial Services and Markets Act 2000, specifically Section 45(1)(c). This section gives the FSA the power to vary or cancel on its own...

My Lords, the reason for the new order would be unfinished business. If the matter had been concluded, the 28-day provision would allow for parliamentary judgment and the accountability of the Executive to be exercised in the debate on the order. A new order would betoken the fact that there...

My Lords, the reason for the new order would be unfinished business. If the matter had been concluded, the 28-day provision would allow for parliamentary judgment and the accountability of the Executive to be exercised in the debate on the order. A new order would betoken the fact that there...

My Lords, I am sure that that was the basis on which the noble Lord said that he intends to withdraw it. I can confirm that we intend to discuss the matter further with him and with other noble Lords who have a real interest in the matter.

My Lords, I am sure that that was the basis on which the noble Lord said that he intends to withdraw it. I can confirm that we intend to discuss the matter further with him and with other noble Lords who have a real interest in the matter.

My Lords, I am grateful to the noble Lord for seeking to be constructive but I have illustrated the limited context in which these powers are to be used and why we need to go beyond ““necessary”” to produce an order which is better for the parties and is in...

My Lords, I am grateful to the noble Lord for seeking to be constructive but I have illustrated the limited context in which these powers are to be used and why we need to go beyond ““necessary”” to produce an order which is better for the parties and is in...

My Lords, of course I accept that point, but the noble and learned Lord will also accept that it is likely that the parliamentary draftsman brought the full weight of his intellect and knowledge to the position that the Government were identifying.

My Lords, of course I accept that point, but the noble and learned Lord will also accept that it is likely that the parliamentary draftsman brought the full weight of his intellect and knowledge to the position that the Government were identifying.

My Lords, that is certainly so. I hear the noble Lord, Lord Baker, saying from a sedentary position that it is democracy. We are dealing with, effectively, emergency powers being exercised to deal with a complex and difficult financial situation that puts at risk the whole financial position. To suggest...

My Lords, that is certainly so. I hear the noble Lord, Lord Baker, saying from a sedentary position that it is democracy. We are dealing with, effectively, emergency powers being exercised to deal with a complex and difficult financial situation that puts at risk the whole financial position. To suggest...