Committee stage: except clauses 1 to 8, schedules 1 and 2, clauses 9, 10, 69 and 62, schedule 12, clauses 63 to 68 and 83 to 85, schedule 13, clause 86 and any new clauses or new schedules relating to the subject matter of these clauses and schedules. Clauses 156 to 224 agreed to. Schedule 19 agreed to. Clause 225 agreed to as amended. Clauses 226 to 258 agreed to. Schedule 20 agreed to. Schedule 21 agreed to as amended. Schedule 22 agreed to. Amendment to clause 259 negatived on division (6 votes to 11). Clauses 259 to 279 agreed to. New clauses 2, 10, 22, 25 negatived on division (6 votes to 10 respectively). New clause 33, discussed with new clause 35, withdrawn. New clause 34 withdrawn. New clause 36 negatived on division (6 votes to 10). Bill, as amended, to be reported (Bill 377). Committee rose. Written evidence reported to the House.

Committee stage: except clauses 1 to 8, schedules 1 and 2, clauses 9, 10, 69 and 62, schedule 12, clauses 63 to 68 and 83 to 85, schedule 13, clause 86 and any new clauses or new schedules relating to the subject matter of these clauses and schedules. Clauses 156...

New Clause 1 (Public registers of beneficial ownership of companies in the British overseas territories), discussed with new clause 8 (Public registers of beneficial ownership of companies in the British Crown Dependencies), debated and withdrawn. New clause 2 (Public register of beneficial ownership of UK property by companies and other legal entities registered outside the UK), debated and withdrawn. New clause 6 (Alignment of sanctions) debated and withdrawn. New clause 7 (Parliamentary committee to scrutinise regulations) negatived on division (9 votes to 10). New clause 9 (Failure to prevent money laundering), discussed with new clause 15 (Disqualification), negatived on division (9 votes to 10). New Clause 10 (Registration of companies: anti-money laundering checks), discussed with new clause 11 (Due diligence), new clause 12 (Companies House: due diligence and resources), and new clause 13 (UK bank accounts), negatived on division (8 votes to 9). New clause 11 negatived on division (8 votes to 9). New clause 13 negatived on division (8 votes to 9). New clause 14 (Trust or company service providers), debated and negatived on division (8 votes to 9). New clause 15 negatived on division (8 votes to 9). New clause 16 (Money laundering: standards and designations), debated and negatived on division (8 votes to 9). New Clause 17 (Consultation on reform of the law on corporate liability for money laundering and terrorist financing etc), debated and negatived on division (8 votes to 9). New clauses 18 to 22 not called. Bill, as amended, reported (Bill 176). Written evidence reported to the House.

New Clause 1 (Public registers of beneficial ownership of companies in the British overseas territories), discussed with new clause 8 (Public registers of beneficial ownership of companies in the British Crown Dependencies), debated and withdrawn. New clause 2 (Public register of beneficial ownership of UK property by companies and other...

To ask Mr Chancellor of the Exchequer, what discussions his Department has had with the Financial Conduct Authority about the introduction of a duty of care for the banking sector to support people with cancer.

To ask Mr Chancellor of the Exchequer, what discussions his Department has had with the Financial Conduct Authority about the introduction of a duty of care for the banking sector to support people with cancer.

Letter dated 24/04/2017 from Baroness Buscombe to Lord Hain regarding an issue raised during the debate on the future of local post offices: consideration of the French Post Bank model - La Banque Postale. 2p.

Letter dated 24/04/2017 from Baroness Buscombe to Lord Hain regarding an issue raised during the debate on the future of local post offices: consideration of the French Post Bank model - La Banque Postale. 2p.

My Lords, I turn to Amendments 24 to 37. A central principle of ring-fencing is that ring-fenced banks must be independent from the rest of their groups, so that the failure of another member of the group cannot spread to—and bring down—the ring-fenced bank. Under existing pensions law, if a...

My Lords, I turn to Amendments 24 to 37. A central principle of ring-fencing is that ring-fenced banks must be independent from the rest of their groups, so that the failure of another member of the group cannot spread to—and bring down—the ring-fenced bank. Under existing pensions law, if a...

The Financial Services (Banking Reform) Bill seeks to make a number of changes to the banking and financial services sector. The Bill builds on the recommendations of the Independent Commission on Banking (the Vickers Commission) and the Parliamentary Commission on Banking Standards and follows a series of Acts passed since the financial crisis of 2008, such as the Financial Services Act 2012.

The Financial Services (Banking Reform) Bill seeks to make a number of changes to the banking and financial services sector. The Bill builds on the recommendations of the Independent Commission on Banking (the Vickers Commission) and the Parliamentary Commission on Banking Standards and follows a series of Acts passed since...

European Union Document No. 15049/09 and Addenda 1 to 3, Commission Communication on an EU framework for cross-border crisis management in the banking sector. Considered by General Committee. Agreed to on question.

European Union Document No. 15049/09 and Addenda 1 to 3, Commission Communication on an EU framework for cross-border crisis management in the banking sector. Considered by General Committee. Agreed to on question.

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 87 87: Clause 235, page 119, line 27, after ““a”” insert ““joint””

Amendment 87 87: Clause 235, page 119, line 27, after ““a”” insert ““joint””

Amendment 55 55: Clause 75, page 39, line 21, leave out ““or desirable””

Amendment 55 55: Clause 75, page 39, line 21, leave out ““or desirable””

My Lords, I am grateful to the Minister for his explanation and I beg leave to withdraw the amendment. Amendment 105 withdrawn. Amendment 106 not moved.

My Lords, I am grateful to the Minister for his explanation and I beg leave to withdraw the amendment. Amendment 105 withdrawn. Amendment 106 not moved.

Amendment 103 103: After Clause 235, insert the following new Clause— ““Debt: assessment of adequacy of resources After section 2C of the Bank of England Act 1998 (Financial Stability Committee: supplemental) as inserted by section 228 above insert— ““2D Debt: assessment of adequacy of resources (1) The Bank of England...

Amendment 103 103: After Clause 235, insert the following new Clause— ““Debt: assessment of adequacy of resources After section 2C of the Bank of England Act 1998 (Financial Stability Committee: supplemental) as inserted by section 228 above insert— ““2D Debt: assessment of adequacy of resources (1) The Bank of England...

My Lords, I said when we debated it at a late hour in Committee that I would return to this amendment. Although my noble friend Lord Davies is always eloquent and well informed, he generalised on what the position is now rather than being more radical and going for a...

My Lords, I said when we debated it at a late hour in Committee that I would return to this amendment. Although my noble friend Lord Davies is always eloquent and well informed, he generalised on what the position is now rather than being more radical and going for a...

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, we support this amendment. The noble Lord, Lord Hoyle, made a powerful case, especially as regards trust, which I shall discuss in a minute, and ensuring that banking services are available, particularly in disadvantaged areas. I am sorry that the noble Lord, Lord Mandelson, is no longer in...

My Lords, we support this amendment. The noble Lord, Lord Hoyle, made a powerful case, especially as regards trust, which I shall discuss in a minute, and ensuring that banking services are available, particularly in disadvantaged areas. I am sorry that the noble Lord, Lord Mandelson, is no longer in...

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, the intention behind this amendment is to ensure that the special resolution objectives, under Clause 4 and the code of practice, under Clause 5, apply to the powers to take a bank holding company into temporary public ownership. I shall be brief in explaining how this is already...

My Lords, the intention behind this amendment is to ensure that the special resolution objectives, under Clause 4 and the code of practice, under Clause 5, apply to the powers to take a bank holding company into temporary public ownership. I shall be brief in explaining how this is already...

My Lords, I shall speak as chairman of the Delegated Powers Committee, which has expressed strong views on this matter. The Government’s proposals for giving themselves almost unlimited powers to rewrite the whole law of insolvency in relation to investment banks reminds me very much of the words of King...

My Lords, I shall speak as chairman of the Delegated Powers Committee, which has expressed strong views on this matter. The Government’s proposals for giving themselves almost unlimited powers to rewrite the whole law of insolvency in relation to investment banks reminds me very much of the words of King...

Amendment 109 109: After Clause 253, insert the following new Clause— ““Banking in post offices The Secretary of State shall establish a national bank which shall operate from both directly managed post offices and sub-post offices throughout the United Kingdom.””

Amendment 109 109: After Clause 253, insert the following new Clause— ““Banking in post offices The Secretary of State shall establish a national bank which shall operate from both directly managed post offices and sub-post offices throughout the United Kingdom.””

My Lords, as usual my noble friend makes a powerful case for something that would bring benefits to ordinary consumers and small businesses. It would further the purposes of government in producing new entities which would lend in situations where ordinary banks, if I may call them that, would have...

My Lords, as usual my noble friend makes a powerful case for something that would bring benefits to ordinary consumers and small businesses. It would further the purposes of government in producing new entities which would lend in situations where ordinary banks, if I may call them that, would have...