Session 2012 - 13
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17

 

House of Commons

 
 

Tuesday 26 March 2013

 

Public Bill Committee Proceedings

 

Financial Services (Banking Reform) Bill


 

[Fifth and Sixth Sittings]


 

Clause 6 Agreed to.

 

Clause 7 Agreed to.

 

Chris Leslie

 

Cathy Jamieson

 

Withdrawn  29

 

Schedule,  page  24,  line  9,  at end insert—

 

‘( )    

After subsection (3) insert—

 

“(4)    

Without prejudice to the generality of subsection (3), in the case of a ring-

 

fencing transfer scheme the court must not make an order sanctioning the

 

scheme if it considers that it might lead to the dissolution of a company

 

or to the transfer of liabilities owed to any persons in a manner that may

 

prejudice the interests of those persons.”.’.

 

Schedule Agreed to.

 

Clause 8 Agreed to.

 


 

Chris Leslie

 

Cathy Jamieson

 

Withdrawn  7

 

Clause  9,  page  15,  line  25,  at end insert—

 

‘Category 8: Deposits of charitable bodies

 

15D      

Any amount owed at the relevant date by the debtor in respect of deposits made

 

by charitable bodies up to the amount of nine tenths of the amount owed to the

 

persons to whom the amount is owed.

 

Interpretation for category 8

 

15E(1)  

In paragraph 15D “charitable body” means any organisation with charitable

 

status under section 1 of the Charities Act 2006.


 
 

Public Bill Committee Proceedings: 26 March 2013          

18

 

Financial Services (Banking Reform) Bill, continued

 
 

      (2)  

For this purpose a “deposit” means rights of the kind described in—

 

(a)    

paragraph 22 of Schedule 2 to the Financial Services and Markets Act

 

2000 (deposits), or

 

(b)    

section 1(2)(b) of the Dormant Bank and Building Society Accounts

 

Act 2008.’.

 

Chris Leslie

 

Cathy Jamieson

 

Not called  8

 

Clause  9,  page  15,  line  35,  after ‘Financial Services Compensation Scheme’, insert

 

‘and deposits of charitable bodies’.

 

Chris Leslie

 

Cathy Jamieson

 

Not called  9

 

Clause  9,  page  15,  line  36,  at end insert—

 

‘Deposits of charitable bodies

 

(6C)    

Any amount owed at the relevant date by the debtor in respect of deposits made

 

by charitable bodies up to the amount of nine tenths of the amount owed to the

 

persons to whom the amount is owed.’.

 

Clause Agreed to.

 

Clauses 10 to 15 Agreed to.

 


 

Chris Leslie

 

Cathy Jamieson

 

Negatived on division  30

 

Clause  16,  page  20,  line  28,  after ‘ring-fencing)’ insert ‘or section (Bank bail-in

 

regime)(2) (bank bail-in regime)’.

 

Clause Agreed to.

 

Clauses 17 to 19 Agreed to.

 


 

Chris Leslie

 

Cathy Jamieson

 

Not called  21

 

Clause  20,  page  21,  line  23,  at end insert—

 

‘( )    

No order may be made appointing a day for the coming into force of section 4 so

 

far as it inserts section 142JC of FSMA 2000 unless the day is later than that on

 

which the report of the first review under section 142J of that Act is published.’.


 
 

Public Bill Committee Proceedings: 26 March 2013          

19

 

Financial Services (Banking Reform) Bill, continued

 
 

Chris Leslie

 

Cathy Jamieson

 

Not called  23

 

Clause  20,  page  21,  line  23,  at end insert—

 

‘( )    

No order may be made appointing a day for the coming into force of section 4 so

 

far as it inserts section 142JD of FSMA 2000 unless—

 

(a)    

the day is later than that on which there is published the report of a review

 

under section 142J of that Act containing a recommendation that section

 

4 should be brought into force to that extent, and

 

(b)    

a draft of the order has been laid before, and approved by a resolution of,

 

each House of Parliament.’.

 

Clause Agreed to.

 


 

Leverage ratio

 

Chris Leslie

 

Cathy Jamieson

 

Negatived on division  NC1

 

To move the following Clause:—

 

‘(1)    

The Treasury may by order make provision about the tier 1 leverage ratio

 

applicable to a relevant body so as to require the relevant body to maintain a

 

minimum tier 1 leverage ratio.

 

(2)    

The Treasury may by order make provision about the tier 1 leverage ratio

 

applicable to a ring-fenced body so as to require the Financial Policy Committee

 

to create differing minimum leverage ratios for different classes of ring-fenced

 

bodies, based upon the risk profile of their balance sheet.’.

 

[Adjourned until Tuesday 16 April at 9.10 am


 
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