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| [Registration of charges: Scotland] and 231 extend’. |
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| To move the following Clause:— |
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| | ‘(1) | The Treasury may by order provide that a specified institution, or an institution |
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| | of a specified class, is or is not to be treated as a financial institution for the |
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| | purposes of section 214 or 215. |
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| | (a) | shall be made by statutory instrument, and |
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| | (b) | shall be subject to annulment in pursuance of a resolution of either House |
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| | Registration of charges: Scotland |
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| To move the following Clause:— |
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| | ‘(1) | The Bankruptcy and Diligence etc. (Scotland) Act 2007 is amended as follows. |
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| | (2) | In section 38 (creation of floating charges)— |
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| | (a) | in subsection (3), after “to” insert “subsection (3A) and”, and |
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| | (b) | after that subsection insert— |
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| | “(3A) | If a floating charge is granted in favour of a central institution, it |
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| | is created only when the document granting the floating charge |
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| | is executed by the company granting the charge.” |
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| | (3) | In section 42 (assignation of floating charges), after subsection (3) add— |
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| | “(4) | This section does not apply where a floating charge is assigned (whether |
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| | in whole or to a specified extent) to or by a central institution.” |
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| | (4) | In section 43 (alteration of floating charges)— |
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| | (a) | in subsection (4), for “But paragraph” substitute “Paragraph”, and |
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| | (b) | after that subsection insert— |
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| | “(4A) | Paragraph (b) of subsection (3) above does not apply in respect |
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| | (a) | the holder of the floating charge is a central institution, |
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| | (b) | the holder of the floating charge is not a central |
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| | institution but the alteration is to be made in connection |
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| | with a floating charge which is held (or which has been |
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| | or is to be held) by a central institution.” |
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| | (5) | In section 44 (discharge of floating charges), after subsection (3) add— |
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| | “(4) | This section does not apply where the floating charge to be discharged |
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| | (whether in whole or to a specified extent) is or has been held by a central |
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| | (6) | In section 47 (interpretation), after “Part—” insert— |
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| | | “central institution” means— |
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| | (b) | the central bank of a country or territory outside the United |
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| | (c) | the European Central Bank;”.’ |
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| To move the following Clause:— |
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| | ‘In this Act “enactment” includes— |
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| | (a) | subordinate legislation, |
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| | (b) | an Act of the Scottish Parliament and an instrument under an Act of the |
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| | (c) | Northern Ireland legislation.’. |
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| | Objectives of the compensation scheme for depositors |
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| To move the following Clause:— |
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| | ‘(1) | This section sets out the objectives for the compensation scheme for depositors. |
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| | (2) | Objective 1 is to maintain customers’ confidence in the UK banking system |
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| | regardless of whether the bank is incorporated in the UK or another EEA country. |
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| | (3) | Objective 2 is to be able to make payments to depositors within seven days and |
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| | to have eligibility criteria, qualification processes and information requirements |
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| | (4) | Objective 3 is to ensure that there are compensation arrangements for each bank |
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| | (5) | Objective 4 is to require that the scheme pays customers their gross balance and |
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| | that any amounts due from customers are collected in the usual way.’. |
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| | Compensation payable to depositors |
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| To move the following Clause:— |
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| | ‘(1) | Each depositor will be entitled to receive from the manager of the scheme referred |
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| | to in section [Objectives of the compensation scheme for depositors] a sum which |
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| | (a) | the deposit protection amount; and |
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| | (b) | the gross balance held by the person. |
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| | (2) | The “deposit protection amount” is £50,000. |
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| | (3) | The Treasury may by order amend the figure in subsection (2). |
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| | (4) | An order under this section may not be made unless a draft statutory instrument |
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| | containing such an order has been laid before, and approved by a resolution of, |
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| | each House of Parliament.’. |
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| | Order of the House [14th OCTOBER 2008] |
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| | That the following provisions shall apply to the Banking Bill: |
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| | 1. | The Bill shall be committed to a Public Bill Committee. |
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| | Proceedings in Public Bill Committee |
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| | 2. | Proceedings in the Public Bill Committee shall (so far as not previously |
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| | concluded) be brought to a conclusion on Tuesday 18th November 2008. |
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| | 3. | The Public Bill Committee shall have leave to sit twice on the first day on |
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| | Consideration and Third Reading |
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| | 4. | Proceedings on consideration shall (so far as not previously concluded) be |
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| | brought to a conclusion one hour before the moment of interruption on the |
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| | day on which those proceedings are commenced. |
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| | 5. | Proceedings on Third Reading shall (so far as not previously concluded) be |
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| | brought to a conclusion at the moment of interruption on that day. |
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| | 6. | Standing Order No. 83B (Programming committees) shall not apply to |
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| | proceedings on consideration and Third Reading. |
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| | 7. | Any other proceedings on the Bill (including any proceedings on |
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| | consideration of Lords Amendments or on any further messages from the |
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| | Lords) may be programmed. |
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