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3

 

House of Commons

 
 

Thursday 23rd October 2008

 

Public Bill Committee Proceedings

 

Banking Bill


 

[Third and Fourth Sittings]


 

Clause 155 Agreed to.

 

Mr Mark Hoban

 

Withdrawn  34

 

Clause  156,  page  81,  line  4,  after ‘the’, insert ‘Authority to make rules enabling

 

the’.

 

Mr Mark Hoban

 

Mr David Gauke

 

Withdrawn  2

 

Clause  156,  page  81,  line  6,  after ‘expenses’, insert ‘relating to the powers

 

exercisable under sections 10 to 12 and Parts 2 and 3 of the Banking Act 2008’.

 

Mr Mark Hoban

 

Not called  35

 

Clause  156,  page  81,  leave out lines 7 to 9 and insert—

 

‘(2)    

Rules made by the Authority may make provision about the establishment and

 

management of contingency funds provided that such rules are limited to the

 

deposit protection element of the compensation scheme; in particular, the rules

 

may make provision about—’.

 

Mr Mark Hoban

 

Mr David Gauke

 

Not called  1

 

Clause  156,  page  81,  line  12,  leave out from first ‘the’ to end of line 13 and insert

 

‘contributions payable by banks and building societies’.

 

Mr Mark Hoban

 

Mr David Gauke

 

Not called  3

 

Clause  156,  page  81,  line  16,  leave out ‘classes of person’ and insert ‘banks and

 

building societies’.

 

Mr Mark Hoban

 

Withdrawn  36

 

Clause  156,  page  81,  line  20,  at end insert ‘and ensuring that no such investment


 
 

Public Bill Committee Proceedings: 23rd October 2008      

4

 

Banking Bill, continued

 
 

shall cause there to be a prevention, restriction or distortion of competition in the relevant

 

lending market;’.

 

Mr Mark Hoban

 

Mr David Gauke

 

Not called  8

 

Clause  156,  page  81,  line  23,  after ‘compensation’, insert ‘for depositors’.

 

Mr Mark Hoban

 

Mr David Gauke

 

Negatived on division  5

 

Clause  156,  page  81,  line  27,  at end insert—

 

‘(2A)    

In making any provision by virtue of subsection (2)(c) the Treasury must take

 

account of the desirability of ensuring that the amount of the levies imposed on a

 

particular class of authorised person reflects, so far as practicable, the amounts of

 

claims made, in respect of that class of person.’.

 

Mr Mark Hoban

 

Mr David Gauke

 

Not called  6

 

Clause  156,  page  81,  line  27,  at end insert—

 

‘(2A)    

The amount of payments into the funds by virtue of subsection (2)(d) may vary

 

between persons in each class.’.

 

Clause Agreed to on division.

 

Clause 158 Agreed to.

 


 

Mr Mark Hoban

 

Withdrawn  37

 

Clause  159,  page  83,  line  30,  after ‘loan,’, insert ‘which shall not be higher than the

 

Bank of England base rate,’.

 

Mr Mark Hoban

 

Not called  38

 

Clause  159,  page  83,  line  31,  after ‘conditions’, insert ‘which shall ensure that

 

repayment of the loan is made on a fair basis.’.

 

Ian Pearson

 

Agreed to  18

 

Clause  159,  page  83,  line  36,  at end insert ‘(and the regulations may have effect

 

despite any provision of this Act);’.

 

Mr Mark Hoban

 

Mr David Gauke

 

Not called  4

 

Clause  159,  page  83,  line  37,  leave out ‘classes of person’ and insert ‘banks and

 

building societies’.


 
 

Public Bill Committee Proceedings: 23rd October 2008      

5

 

Banking Bill, continued

 
 

Mr Mark Hoban

 

Mr David Gauke

 

Not called  7

 

Clause  159,  page  83,  line  38,  at end insert—

 

‘(4A)    

In making any provision by virtue of subsection (4)(c) the Treasury must take

 

account of the desirability of ensuring that the amount of the levies imposed on a

 

particular class of authorised person reflects, so far as practicable, the amount of

 

claims made, in respect of that class of person.’.

 

Clause, as amended, Agreed to.

 

Clauses 160 to 164 Agreed to.

 


 

Mr Colin Breed

 

Dr John Pugh

 

Dr Vincent Cable

 

Withdrawn  10

 

Clause  165,  page  86,  line  27,  at end insert—

 

‘(4)    

Any scheme agent who reneges on their contract of employment will be subject

 

to a penalty.

 

(5)    

The Chancellor of the Exchequer may make such regulations as are necessary for

 

the establishment of a penalty.

 

(6)    

The power to make regulations under subsection (5) is exercisable by statutory

 

instrument.

 

(7)    

A statutory instrument containing regulations under subsection (5) may not be

 

made unless a draft of it has been laid before and approved by resolution of the

 

House of Commons.’.

 

Clause Agreed to.

 

Clause 166 Agreed to.

 

[Adjourned till Tuesday 28th October at 10.30 a.m.


 
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