House of Commons Public Bill Committee Proceedings

House of Commons

Session 2007 - 08
Internet Publications
Other Bills before Parliament

33

House of Commons

Thursday 13th November 2008

Public Bill Committee Proceedings

Banking Bill

[Fifteenth and Sixteenth Sittings]

Mr David Gauke

Mr Mark Hoban

Negatived on division  119

Clause  65,  page  32,  line  10,  at end insert ‘, where the Treasury is satisfied that not

to do so threatens the stability of, or confidence in, the UK financial system’.

Mr David Gauke

Negatived on division  155

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

Ian Pearson

Agreed to  12

Clause  65,  page  32,  line  22,   leave out subsection (5).

Mr David Gauke

Mr Mark Hoban

Not called  120

Clause  65,  page  32,  line  39,  after ‘(8)(b),’, insert ‘in order to protect the stability of,

or confidence in, the UK financial systems’.

Mr David Gauke

Mr Mark Hoban

Not called  121

Clause  65,  page  32,  line  42,  leave out from ‘days’ to ‘beginning’ in line 44.

Mr David Gauke

Not called  156

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

Public Bill Committee Proceedings: 13th November 2008
34

Banking Bill, continued

Mr David Gauke

Not called  157

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

‘(10)
No Order under this section may amend subsections (8) or (9).’.

Mr Colin Breed

Dr John Pugh

Not selected  73

Page  32,  line  7,  leave out Clause 65.

Clause, as amended, Agreed to on division.

Clauses 66 to 76 Agreed to.

Ian Pearson

Agreed to  177

Clause  157,  page  81,  line  42,  after ‘bank’ insert ‘, building society or credit union’.

Ian Pearson

Agreed to  178

Clause  157,  page  81,  line  44,  after ‘bank’ insert ‘, building society or credit union’.

Ian Pearson

Agreed to  17

Clause  157,  page  83,  line  3,  at end insert—

‘(2)
At the end of section 223(3) of the Financial Services and Markets Act 2000

(management expenses) add “;

(c)
under section 214B.”’.

Clause, as amended, Agreed to.

Clauses 77 to 89 Agreed to.

Public Bill Committee Proceedings: 13th November 2008
35

Banking Bill, continued

Ian Pearson

Agreed to  158

Clause  90,  page  45,  line  44,  at end insert—

‘Section 135
Provisional appointment
(a)
Treat the reference to the presentation of

a winding-up petition as a reference to

the making of an application for a bank

insolvency order.

(b)
Subsection (2) applies in relation to

England and Wales and Scotland (and

subsection (3) does not apply).

(c)
Ignore the reference to the official

receiver.

(d)
Only a person who is qualified to act as

an insolvency practitioner and who

consents to act may be appointed.

(e)
A provisional bank liquidator may not

pay dividends to creditors.

(f)
The appointment of a provisional bank

liquidator lapses on the appointment of a

bank liquidator.’.

Clause, as amended, Agreed to.

Clauses 91 to 100 Agreed to.

Ian Pearson

Agreed to  159

Clause  101,  page  54,  line  3,  after ‘payments’ insert ‘or have their accounts

transferred’.

Clause, as amended, Agreed to.

Clauses 102 to 108 Agreed to.

Ian Pearson

Agreed to  13

Clause  109,  page  57,  line  25,   leave out subsection (2).

Clause, as amended, Agreed to.

Clauses 110 and 111 Agreed to.

Ian Pearson

Agreed to  160

Clause  112,  page  59,  line  1,  leave out subsection (2) and insert—

‘(2)
After subsection (1) insert—

Public Bill Committee Proceedings: 13th November 2008
36

Banking Bill, continued

“(1A)
Rules may also be made for the purpose of giving effect to Part 2 of the

Banking Act 2008 (bank insolvency orders); and rules for that purpose

shall be made—

(a)
in relation to England and Wales, by the Lord Chancellor with

the concurrence of—

(i)
the Treasury, and

(ii)
in the case of rules that affect court procedure, the Lord

Chief Justice, or

(b)
in relation to Scotland, by the Treasury.”’.

Ian Pearson

Agreed to  161

Clause  112,  page  59,  line  2,  at end insert—

‘(2A)
In subsection (2)—

(a)
after “subsection (1),” insert “(1A)”;

(b)
in paragraph (b), after “Secretary of State” insert “or the Treasury”.’.

Ian Pearson

Agreed to  162

Clause  112,  page  59,  line  11,  at end insert—

‘(5)
In subsection (5), after “the Secretary of State” insert “or the Treasury”.

(6)
In paragraph 27 of Schedule 8 to the Insolvency Act 1986 (provisions capable of

inclusion in company insolvency rules), after “Secretary of State” insert “or the

Treasury”.’.

Clause, as amended, Agreed to.

Clauses 113 to 121 Agreed to.

Ian Pearson

Agreed to  14

Clause  122,  page  61,  line  26,   leave out ‘and an Act of the Scottish Parliament’.

Clause, as amended, Agreed to.

[Adjourned till Tuesday 18th November at 10.30 a.m.