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S.C.E.

17

 
 

House of Commons

 
 

Tuesday 5th July 2005

 

Standing Committee Proceedings

 

Standing Committee E

 

Regulation of Financial Services (Land Transactions) Bill


 

Mr Ivan Lewis

 

Agreed to

 

That—

 

(1)  

during proceedings on the Regulation of Financial Services (Land

 

Transactions) Bill, in addition to its first meeting at 10.30 a.m. on Tuesday

 

5th July, the Standing Committee shall meet—

 

(a)  

at 4.30 p.m. on Tuesday 5th July, and

 

(b)  

at 9.00 a.m. and 2.00 p.m. on Thursday 7th July;

 

(2)  

the proceedings, so far as not previously concluded, shall be brought to a

 

conclusion at 5.00 p.m. on Thursday 7th July;

 

(3)  

the Standing Committee recommends that the Programme Order of 23rd June

 

2005 relating to the Regulation of Financial Services (Land Transactions)

 

Bill be varied as follows—

 

(a)  

paragraphs 4 and 5 shall be omitted; and

 

(b)  

proceedings on consideration and Third Reading shall (so far as not

 

previously concluded) be brought to a conclusion three hours after

 

commencement of proceedings on consideration.

 


 

Mr Mark Field

 

Mr Philip Hammond

 

Mr Mark Francois

 

Gregory Barker

 

Withdrawn  2

 

Clause  1,  page  2,  line  6,  at end add—

 

‘(4)    

The provisions of this paragraph apply only where the property (or the relevant

 

part of it subject to a finance arrangement under this Act) is valued at no less than

 

£50,000.’.


 
 

S.C.E.    Standing Committee Proceedings: 5th July 2005            

18

 

Regulation of Financial Services (Land Transactions) Bill, continued

 
 

Mr Mark Field

 

Mr Philip Hammond

 

Mr Mark Francois

 

Gregory Barker

 

Withdrawn  3

 

Clause  1,  page  2,  line  6,  at end add—

 

‘(2)    

In Part 2 of Schedule 2 to that Act, after paragraph 26 there is inserted—

 

“Parliamentary monitoring

 

26A    

On the second anniversary of the coming into force of paragraph 23A and

 

annually thereafter the Chancellor of the Exchequer shall lay before Parliament a

 

regulatory impact assessment of the operation of the provisions of that

 

paragraph.”.’.

 

Clause Agreed to.

 

Clause 2 Agreed to.

 

Bill to be reported without Amendment.

 


 
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