House of Commons Public Bill Committee Proceedings

Session 2010 - 12
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Other Bills before Parliament

1

House of Commons

Tuesday 21 February 2012

Public Bill Committee Proceedings

Financial Services Bill

[First and Second SittingS]

Mr Mark Hoban

Agreed to

That—

(1)
the Committee shall (in addition to its first meeting at 10.30 am on Tuesday

21 February) meet—

(a)
at 4.00 pm on Tuesday 21 February;

(b)
at 9.30 am and 1.00 pm on Thursday 23 February;

(c)
at 10.30 am and 4.00 pm on Tuesday 28 February;

(d)
at 9.30 am and 1.00 pm on Thursday 1 March;

(e)
at 10.30 am and 4.00 pm on Tuesday 6 March;

(f)
at 9.30 am and 1.00 pm on Thursday 8 March;

(g)
at 9.30 am and 1.00 pm on Thursday 15 March;

(h)
at 4.00 pm on Tuesday 20 March;

(i)
at 9.30 am on Thursday 22 March.

(2)
the proceedings shall be taken in the following order: Clauses 1 to 3;

Schedule 1; Clause 4; Schedule 2; Clause 5; Schedule 3; Clauses 6 to 10;

Schedule 4; Clauses 11 to 13; Schedule 5; Clauses 14 to 20; Schedule 6;

Clauses 21 to 27; Schedule 7; Clauses 28 to 32; Schedule 8; Clauses 33 and

34; Schedule 9; Clause 35; Schedule 10; Clause 36; Schedule 11; Clauses 37

and 38; Schedule 12; Clause 39; Schedule 13; Clauses 40 and 41; Schedule

14; Clause 42; Schedule 15; Clause 43; Schedule 16; Clauses 44 to 90;

Schedule 17; Clauses 91 to 94; Schedules 18 and 19; Clauses 95 to 99;

Schedules 20 and 21; Clauses 100 to 103; new Clauses; new Schedules;

remaining proceedings on the Bill.

(3)
the proceedings shall (so far as not previously concluded) be brought to a

conclusion at 10.25 am on Thursday 22 March.

Public Bill Committee Proceedings: 21 February 2012
2

Financial Services Bill, continued

Mr Mark Hoban

That, subject to the discretion of the Chair, any written evidence received by the

Committee shall be reported to the House for publication.

Agreed to

Chris Leslie

Cathy Jamieson

Negatived on division  1

Clause  1,  page  1,  leave out line 5 and insert ‘(1), (2) and (2A) substitute—

“(1)
There shall continue to be a court of directors of the Bank but it shall be renamed

the Supervisory Board of the Bank of England.”.’.

Chris Leslie

Cathy Jamieson

Not called  2

Clause  1,  page  1,  line  8,  leave out ‘a Governor’ and insert ‘the Governor of the

Bank.’.

Chris Leslie

Cathy Jamieson

Mark Durkan

Negatived on division  3

Clause  1,  page  1,  line  12,  at end insert—

‘(2A)
The Chancellor of the Exchequer shall only appoint a person under subsection

(2)(e) if he is satisfied that the person has knowledge or experience which is likely

to be relevant to the Court’s functions and would enhance the diversity of the

composition of the Court.’.

Clause Agreed to.

Chris Leslie

Cathy Jamieson

Mark Durkan

Negatived on division  4

Clause  2,  page  2,  line  7,  at end insert—

‘(2A)
The Bank shall also be under a duty to minimise, as far as possible, the use of

public funds to support or rescue parts of the UK financial services industry.’.

Clause Agreed to.

Public Bill Committee Proceedings: 21 February 2012
3

Financial Services Bill, continued

Chris Leslie

Cathy Jamieson

Mark Durkan

Withdrawn  37

Clause  3,  page  2,  line  21,  after ‘strategy’, insert ‘including the proposed range of

macro-prudential measures available to the Bank.’.

Chris Leslie

Cathy Jamieson

Not called  38

Clause  3,  page  2,  line  26,  after ‘Treasury’, insert—

‘(c)
the public’.

Chris Leslie

Cathy Jamieson

Withdrawn  6

Clause  3,  page  3,  line  7,  leave out ‘sub-committee of the court of directors’ and

insert ‘committee’.

Chris Leslie

Cathy Jamieson

Mark Durkan

Question proposed  9

Clause  3,  page  3,  line  14,  leave out ‘4’ and insert ‘6’.

[Adjourned until Thursday at 9.30 am



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