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| |
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| | ‘(2) | At the end of section 223(3) of the Financial Services and Markets Act 2000 |
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| | (management expenses) add “; |
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| | (c) | under section 214B.”’. |
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| | |
| Clause 109, page 57, line 25, leave out subsection (2). |
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| Clause 122, page 61, line 26, leave out ‘and an Act of the Scottish Parliament’. |
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| Clause 143, page 77, line 11, leave out subsection (2). |
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| Clause 154, page 80, line 25, leave out ‘and an Act of the Scottish Parliament’. |
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| Clause 239, page 115, line 5, leave out ‘section 231 extends’ and insert ‘sections |
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| [Registration of charges: Scotland] and 231 extend’. |
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| To move the following Clause:— |
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| |
| |
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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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| 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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| | 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 39 (advance notice of floating charges), after subsection (3) add— |
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| | “(4) | This section does not apply where a company proposes to grant a floating |
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| | charge in favour of a central institution.” |
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| | (4) | 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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| | (5) | 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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| |
| |
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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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| | (6) | 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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| | |
| | (7) | 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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| |
| | 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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| |
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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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| |
| | Court’s discretion in mortgage possession proceedings |
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| | To move the following Clause:— |
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| | ‘In The Housing Act 1980 (c.51), after section 89 insert the following:— |
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| | “89A | Court’s discretion in mortgage possession proceedings |
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| | (1) | This section applies where, in possession proceedings brought by a |
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| | mortgagee under a mortgage agreement (whether or not regulated by any |
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| | enactment), it appears to the court that the property is occupied by a |
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| | person or persons whose occupation derives from an interest or licence |
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| | created by the mortgagor under that agreement (whether or not such |
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| | interest or licence was created in breach of the terms of that agreement). |
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| | (2) | Where subsection (1) applies, the court may postpone the date of |
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| | possession, or stay or suspend execution of the order, for such period or |
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| | periods as the court thinks just, not exceeding three months in total. |
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| | (3) | On any such postponement, stay or suspension as is referred to in |
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| | subsection (1), the court may, unless it considers that to do so would |
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| | cause hardship to the occupier or would otherwise be unreasonable, |
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| | impose such conditions as it thinks fit with regard to the payment by the |
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| | occupier of sums for the use and occupation of the premises (not |
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| | exceeding the amount of the rent or other contractual payment which the |
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| | occupier was liable to pay under his agreement with the mortgagor). |
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| | (4) | Rules of court shall provide for appropriate notices to be served on the |
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| | residential occupier of any premises prior to the commencement and in |
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| | the course of possession proceedings brought by a mortgagee of those |
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| | premises; and shall provide for the occupier to be heard by the court, |
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| | whether by being joined as a party to the proceedings or otherwise. |
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| | (5) | In fixing the period of any such postponement, stay or suspension as is |
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| | referred to in subsection (2) and in deciding whether to impose conditions |
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| | under subsection (3), the court shall have regard to all the circumstances, |
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| | |
| | (a) | the terms, and in particular the duration, of the agreement |
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| | between the occupier and the mortgagor; |
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| |
| |
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| | (b) | the interests of any children or other vulnerable members of the |
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| | |
| | (c) | the fact (if applicable) that the occupier’s agreement with the |
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| | mortgagor has been terminated prematurely; |
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| | (d) | the availability of suitable alternative accommodation; |
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| | (e) | whether the tenancy or licence between the mortgagor and the |
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| | occupier was created in breach of the terms of the mortgage |
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| | agreement, and whether the occupier was aware that his |
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| | occupation constituted such a breach; |
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| | (f) | whether the mortgagee knew, or ought to have known, that the |
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| | premises were to be let or licensed by the mortgagor, in the |
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| | course of business or otherwise; |
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| | (g) | any prejudice which would be caused to the mortgagee by the |
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| | deferment of possession or execution; and |
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| | (h) | any hardship which would be caused to the occupier by a |
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| | decision not to defer possession or execution. |
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| | (6) | For the avoidance of doubt, nothing in this section affects the right of a |
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| | person whose interest in the property pre-dates, or otherwise ranks in |
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| | preference to, the interests of the mortgagee.’”. |
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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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| |
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| |
| |
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| | Order of the Committee [21st October 2008] |
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| | |
| | (1) | the Committee shall (in addition to its first meeting at 10.30 a.m. on Tuesday |
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| | |
| | (a) | at 4.30 p.m. on Tuesday 21st October; |
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| | (b) | at 9.00 a.m. and 1.00 p.m. on Thursday 23rd October; |
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| | (c) | at 10.30 a.m. and 4.30 p.m. on Tuesday 28th October; |
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| | (d) | at 9.00 a.m. and 1.00 p.m. on Thursday 30th October; |
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| | (e) | at 10.30 a.m. and 4.30 p.m. on Tuesday 4th November; |
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| | (f) | at 9.00 a.m. and 1.00 p.m. on Thursday 6th November; |
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| | (g) | at 10.30 a.m. and 4.30 p.m. on Tuesday 11th November; |
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| | (h) | at 9.00 a.m. and 1.00 p.m. on Thursday 13th November; |
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| | (i) | at 10.30 a.m. and 4.30 p.m. on Tuesday 18th November; |
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| | (2) | the Committee shall hear oral evidence in accordance with the following |
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| | |
| | |
| | | | | | | | Until no later than 12 noon |
| | | | | | Until no later than 1.00 p.m. |
| Bank of England; Financial |
| | | | | | Services Authority; Financial |
| | | | | | Services Compensation Scheme |
| | | | | Until no later than 5.45 p.m. |
| British Bankers’ Association; |
| | | | | | Building Societies Association; |
| | | | | | London Investment Banking |
| | | | | | | | | | | Until no later than 7.00 p.m. |
| Association of British Insurers; |
| | | | | | | | | | | | Association; Citizens Advice |
| | | | | | | | |
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| | (3) | proceedings on consideration of the Bill in Committee shall be taken in the |
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| | following order: Clauses 155 and 156; Clauses 158 to 233; Clauses 1 to 76; |
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| | Clause 157; Clauses 77 to 154; Clauses 234 to 240; new Clauses; new |
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| | Schedules; remaining proceedings on the Bill; |
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| | (4) | the proceedings shall (so far as not previously concluded) be brought to a |
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| | conclusion at 7.00 p.m. on Tuesday 18th November. |
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| |
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| |
| |
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| | |
| | The following Notices have been withdrawn: |
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| | Registration of charges: Scotland |
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| |
| | |
| To move the following Clause:— |
|
| | ‘(1) | The Bankruptcy and Diligence etc. (Scotland) Act 2007 is amended as follows. |
|
| | (2) | In section 38 (creation of floating charges)— |
|
| | (a) | in subsection (3), after “to” insert “subsection (3A) and”, and |
|
| | (b) | after that subsection insert— |
|
| | “(3A) | If a floating charge is granted in favour of a central institution, it |
|
| | is created only when the document granting the floating charge |
|
| | is executed by the company granting the charge.” |
|
| | (3) | In section 42 (assignation of floating charges), after subsection (3) add— |
|
| | “(4) | This section does not apply where a floating charge is assigned (whether |
|
| | in whole or to a specified extent) to or by a central institution.” |
|
| | (4) | In section 43 (alteration of floating charges)— |
|
| | (a) | in subsection (4), for “But paragraph” substitute “Paragraph”, and |
|
| | (b) | after that subsection insert— |
|
| | “(4A) | Paragraph (b) of subsection (3) above does not apply in respect |
|
| | |
| | (a) | the holder of the floating charge is a central institution, |
|
| | |
| | (b) | the holder of the floating charge is not a central |
|
| | institution but the alteration is to be made in connection |
|
| | with a floating charge which is held (or which has been |
|
| | or is to be held) by a central institution.” |
|
| | (5) | In section 44 (discharge of floating charges), after subsection (3) add— |
|
| | “(4) | This section does not apply where the floating charge to be discharged |
|
| | (whether in whole or to a specified extent) is or has been held by a central |
|
| | |
| | (6) | In section 47 (interpretation), after “Part—” insert— |
|
| | | “central institution” means— |
|
| | |
| | (b) | the central bank of a country or territory outside the United |
|
| | |
| | (c) | the European Central Bank;”.’ |
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| |
|