Session 2012 - 13
Internet Publications
Other Bills before Parliament
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| | Financial Services (Banking Reform) Bill
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| | [Fifth and Sixth Sittings]
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| | Schedule, page 24, line 9, at end insert— |
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| | | ‘( ) | After subsection (3) insert— |
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| | | “(4) | Without prejudice to the generality of subsection (3), in the case of a ring- |
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| | | fencing transfer scheme the court must not make an order sanctioning the |
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| | | scheme if it considers that it might lead to the dissolution of a company |
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| | | or to the transfer of liabilities owed to any persons in a manner that may |
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| | | prejudice the interests of those persons.”.’. |
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| | Clause 9, page 15, line 25, at end insert— |
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| | | ‘Category 8: Deposits of charitable bodies |
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| | | 15D | Any amount owed at the relevant date by the debtor in respect of deposits made |
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| | | by charitable bodies up to the amount of nine tenths of the amount owed to the |
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| | | persons to whom the amount is owed. |
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| | | Interpretation for category 8 |
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| | | 15E(1) | In paragraph 15D “charitable body” means any organisation with charitable |
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| | | status under section 1 of the Charities Act 2006. |
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| | | (2) | For this purpose a “deposit” means rights of the kind described in— |
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| | | (a) | paragraph 22 of Schedule 2 to the Financial Services and Markets Act |
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| | | (b) | section 1(2)(b) of the Dormant Bank and Building Society Accounts |
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| | Clause 9, page 15, line 35, after ‘Financial Services Compensation Scheme’, insert |
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| | ‘and deposits of charitable bodies’. |
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| | Clause 9, page 15, line 36, at end insert— |
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| | | ‘Deposits of charitable bodies |
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| | | (6C) | Any amount owed at the relevant date by the debtor in respect of deposits made |
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| | | by charitable bodies up to the amount of nine tenths of the amount owed to the |
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| | | persons to whom the amount is owed.’. |
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| | | Clauses 10 to 15 Agreed to. |
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| | Clause 16, page 20, line 28, after ‘ring-fencing)’ insert ‘or section (Bank bail-in |
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| | regime)(2) (bank bail-in regime)’. |
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| | | Clauses 17 to 19 Agreed to. |
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| | Clause 20, page 21, line 23, at end insert— |
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| | | ‘( ) | No order may be made appointing a day for the coming into force of section 4 so |
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| | | far as it inserts section 142JC of FSMA 2000 unless the day is later than that on |
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| | | which the report of the first review under section 142J of that Act is published.’. |
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| | Clause 20, page 21, line 23, at end insert— |
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| | | ‘( ) | No order may be made appointing a day for the coming into force of section 4 so |
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| | | far as it inserts section 142JD of FSMA 2000 unless— |
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| | | (a) | the day is later than that on which there is published the report of a review |
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| | | under section 142J of that Act containing a recommendation that section |
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| | | 4 should be brought into force to that extent, and |
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| | | (b) | a draft of the order has been laid before, and approved by a resolution of, |
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| | | each House of Parliament.’. |
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| | | Negatived on division NC1 |
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| | To move the following Clause:— |
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| | | ‘(1) | The Treasury may by order make provision about the tier 1 leverage ratio |
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| | | applicable to a relevant body so as to require the relevant body to maintain a |
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| | | minimum tier 1 leverage ratio. |
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| | | (2) | The Treasury may by order make provision about the tier 1 leverage ratio |
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| | | applicable to a ring-fenced body so as to require the Financial Policy Committee |
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| | | to create differing minimum leverage ratios for different classes of ring-fenced |
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| | | bodies, based upon the risk profile of their balance sheet.’. |
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| | [Adjourned until Tuesday 16 April at 9.10 am |
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