115

House of Commons

Notices of Amendments

given on

Thursday 6th November 2008

For other Amendment(s) see the following page(s):

Banking Bill Committee 95-113

Public Bill Committee

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Banking Bill

Ian Pearson

122

Clause  57,  page  27,  line  27,  leave out subsection (4) and insert—

‘(4)	The duty to provide services and facilities in pursuance of the continuity

obligation is subject to a right to receive reasonable consideration.’.

Ian Pearson

123

Clause  58,  page  28,  line  20,  leave out ‘consideration at market rate’ and insert

‘reasonable consideration,’.

Ian Pearson

124

Clause  58,  page  28,  line  22,  leave out ‘on market terms’.

Ian Pearson

125

Clause  59,  page  29,  line  4,  leave out subsection (4) and insert—

‘(4)	The duty to provide services and facilities in pursuance of the continuity

obligation is subject to a right to receive reasonable consideration.’.

Ian Pearson

126

Clause  60,  page  29,  line  32,  leave out ‘consideration at market rate’ and insert

‘reasonable consideration,’.

Ian Pearson

127

Clause  60,  page  29,  line  34,  leave out ‘on market terms’.

Notices of Amendments: 6th November 2008

116

Banking Bill, continued

Continuity obligations: consideration and terms

Ian Pearson

NC17

To move the following Clause:—

‘(1)	The Treasury may by order specify matters which are to be or not to be considered

in determining—

(a)	what amounts to reasonable consideration for the purpose of sections 57

to 60;

(b)	what provisions to include in accordance with section 58(3)(b) or

60(3)(b).

(2)

An order—

(a)	shall be made by statutory instrument, and

(b)	shall be subject to annulment in pursuance of a resolution of either House

of Parliament.

(3)	A continuity authority may give guarantees or indemnities in respect of

consideration for services or facilities provided or to be provided in pursuance of

a continuity obligation.

(4)	In this section “continuity authority”—

(a)	in relation to sections 57 and 58, means the Bank of England, and

(b)	in relation to sections 59 and 60, has the same meaning as in those

sections.’.

Continuity obligations: termination

Ian Pearson

NC18

To move the following Clause:—

‘(1)	The continuity authority may by notice terminate an obligation arising under

section 57 or 59.

(2)	The power under subsection (1) is exerciseable by giving a notice to each

person—

(a)	on whom the obligation is imposed, or

(b)	who has benefited or might have expected to benefit from the obligation.

(3)	In this section “continuity authority”—

(a)	in relation to section 57, means the Bank of England, and

(b)	in relation to section 59, has the same meaning as in that section.’.

Mr David Gauke

128

Clause  30,  page  13,  line  31,  after second ‘instrument’, insert ‘made under this Act’.

Mr David Gauke

129

Clause  30,  page  13,  line  33,  at end insert ‘and’.

Mr David Gauke

130

Clause  30,  page  13,  line  34,  leave out ‘other’.

Notices of Amendments: 6th November 2008

117

Banking Bill, continued

Mr David Gauke

131

Clause  30,  page  13,  line  36,  after ‘instrument,’, insert ‘or’.

Mr David Gauke

132

Clause  30,  page  13,  line  37,  leave out ‘or otherwise’.

Mr David Gauke

133

Clause  31,  page  14,  line  6,  leave out ‘or’.

Mr David Gauke

134

Clause  31,  page  14,  line  7,  leave out ‘in any other way’ and insert ‘common law’.

Mr David Gauke

135

Clause  31,  page  14,  line  12,  leave out ‘(by any name)’.

Mr David Gauke

136

Clause  32,  page  14,  line  23,  leave out ‘(including legislation of the European

Union)’.

Mr David Gauke

137

Clause  34,  page  15,  line  20,  leave out ‘despite the transfer’ and insert ‘as if the

transferee is the transferor’.

Mr David Gauke

138

Clause  35,  page  15,  line  34,  at end insert ‘or’.

Mr David Gauke

139

Clause  35,  page  15,  leave out lines 37 to 41.

Mr David Gauke

140

Clause  36,  page  16,  line  19,  after ‘means’, insert ‘property which is’.

Mr David Gauke

141

Clause  36,  page  16,  line  20,  leave out ‘property’ and insert ‘physically situated’.

Mr David Gauke

142

Clause  36,  page  16,  line  31,  leave out ‘rights and liabilities under foreign law’ and

insert ‘is a right in action which exists only under the jurisdiction outside the UK

(disregarding any arbitration provisions)’.

Notices of Amendments: 6th November 2008

118

Banking Bill, continued

Mr David Gauke

143

Clause  36,  page  16,  line  32,  leave out subsection (6).

Mr David Gauke

144

Clause  42,  page  19,  line  26,  after ‘include’, insert ‘any’.

Mr David Gauke

145

Clause  44,  page  21,  line  10,  leave out ‘things transferred’ and insert ‘the bridge

bank or bank in public ownership, or any property or rights of the bridge bank or bank in

public ownership’.

Mr David Gauke

146

Clause  48,  page  22,  line  21,  at end insert ‘(which may, in particular, make

provision in respect of specified classes of creditor, for rights in addition to any they may

have by virtue of any resolution order).’.

Mr David Gauke

147

Clause  52,  page  24,  line  40,  at end insert ‘or to third parties.’.

Mr David Gauke

148

Clause  53,  page  25,  line  11,  after ‘Treasury’, insert ‘or’.

Mr David Gauke

149

Clause  53,  page  25,  line  12,  leave out from ‘England’ to end of line 13.

Mr David Gauke

150

Clause  53,  page  25,  line  20,  leave out ‘subserviate it to’ and insert ‘subordinate the

requirement to the’.

Mr David Gauke

151

Clause  53,  page  25,  line  22,  leave out ‘its extent’ and insert ‘the extent of the

requirement’.

Mr David Gauke

152

Clause  55,  page  26,  line  4,  leave out from ‘shall’ to ‘that’ in line 5 and insert

‘ensure’.

Mr David Gauke

153

Clause  55,  page  26,  line  7,  leave out ‘it’ and insert ‘the residual bank’.

Notices of Amendments: 6th November 2008

119

Banking Bill, continued

Mr David Gauke

154

Clause  55,  page  26,  leave out line 41.

Mr David Gauke

155

Clause  65,  page  32,  line  15,  leave out subsection (3).

Mr David Gauke

156

Clause  65,  page  33,  line  1,  leave out paragraph (c).

Mr David Gauke

157

Clause  65,  page  33,  line  5,  at end insert—

‘(10)

No Order under this section may amend subsections (8) or (9).’.

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Revised 7 November 2008