No. 54, in line 4, after operator, insert or other person.
No. 55, in line 5, after operator, insert or other person.
No. 56, in line 5, leave out and.
No. 57, in line 6, at end insert
(d) as soon as is reasonably practicable, give the operator or other person a notice stating whether or not the Bank intends to impose the sanction..
No. 58, in line 8, leave out 191 and insert 191(1). [Mark Tami.]
Amendments made: No. 59, in page 98, line 17, leave out subsections (1) and (2) and insert
(1) Where the Bank of England notifies a person under section 195(1)(d) that the Bank intends to impose a sanction, the person may appeal to the Financial Services and Markets Tribunal.
(2) Where the Bank of England imposes a sanction on a person without notice in reliance on section 195(3), the person may appeal to the Financial Services and Markets Tribunal..
No. 60, in line 29, leave out paragraph (b) and insert
(b) for section 133(9) of that Act substitute the proposition that a sanction may not be imposed while an appeal could be brought or is pending.. [Mark Tami.]
Amendments made: No. 61, in page 104, line 9, after of, insert
No. 62, in line 10, at end insert
(b) details of anything done in contravention of this Part or banknote regulations or rules;
(c) details of action taken under sections 215 to 218 (which may include details of the reason for the action and its result).. [Mark Tami.]
Amendment made: No. 63, in page 104, line 35, leave out subsection (3) and insert
(3) A right to rely on section 207 cannot be transferred by or acquired from an authorised bank (and, in particular, cannot be acquired by virtue of or in connection with anything done under Part 1).. [Mark Tami.]
Amendment made: No. 64, in page 107, line 22, leave out from assistance to end of line 23 and insert
has the meaning given by section 244.. [Mark Tami.]
26 Nov 2008 : Column 853
Amendment made: No. 65, in page 111, line 37, at end insert
(ba) the scheme manager of the Financial Services Compensation Scheme (established under Part 15 of the Financial Services and Markets Act 2000);. [Mark Tami.]
Financial assistance to building societies
Amendments made: No. 66, in page 113, line 36, at end insert
(7) In this section, financial assistance has the meaning given by section 244..
No. 67, in line 36, at end insert
(7) The Treasury may by order create exceptions to or otherwise modify the effect of section 9B of the Building Societies Act 1986 (restriction on creation of floating charges); and
(a) the Treasury may make an order only if they think it is likely to help building societies to use, give effect to or take advantage of financial assistance of the kind specified in subsection (1),
(b) an order may have effect in relation to transactions between building societies and persons not listed in subsection (1),
(c) an order shall be made by statutory instrument, and
(d) an order may not be made unless a draft has been laid before and approved by resolution of each House of Parliament.. [Mark Tami.]
Registration of charges
Amendments made: No. 68, in page 113, line 39, leave out entitled to and insert interested in.
No. 69, in line 43, at end insert
(2) The reference in subsection (1) to Part 25 of the Companies Act 2006 includes a reference to
(a) Part 12 of the Companies Act 1985 (which has effect until the commencement of Part 25 of the 2006 Act),
(b) Part 13 of the Companies (Northern Ireland) Order 1986 (which has effect until the commencement of Part 25 of the 2006 Act), and
(c) any provision about registration of charges made under section 1052 of the Companies Act 2006 (overseas companies).. [Mark Tami.]
Amendments made: No. 70, in page 117, line 30, at end insert
(which are subject to subsections (4) to (6))..
No. 71, in page 119, line 9, at end insert
Borrowing from National Loans Fund
No. 72, in line 25, at end insert
(4) A power listed in subsection (5) may be exercised without a draft being laid before and approved by resolution of each House of Parliament if
26 Nov 2008 : Column 854
(a) the power is being exercised for the first time, and
(b) the person exercising it is satisfied that it is necessary to exercise it without laying a draft for approval.
(5) The powers are those in
(a) section 2 (special resolution regime: meaning of bank),
(j) section 143 (bank administration: multiple original transfers),
(k) section 146 (bank administration: transfer from temporary public ownership),
(l) section 150 (bank administration: application of other law),
(m) section 152 (bank administration: building societies),
(n) section 162 (bank administration: consequential provision), and
(o) section 165 (Financial Services Compensation Scheme: special resolution regime).
(6) Where an instrument is made in reliance on subsection (5)
(a) it shall lapse unless approved by resolution of each House of Parliament during the period of 28 days (ignoring periods of dissolution, prorogation or adjournment of either House for more than 4 days) beginning with the day on which the instrument is made,
(b) the lapse of an instrument under paragraph (a) does not invalidate anything done under or in reliance on it before its lapse and at a time when neither House has declined to approve it, and
(c) the lapse of an instrument under paragraph (a) does not prevent the making of a new one.. [Mark Tami.]
Amendment made: No. 73, in page 121, line 20, at beginning insert The preceding provisions of. [Mark Tami.]
Order for Third Reading read.
To be read the Third time on Monday 1 December.
Mr. Graham Stuart (Beverley and Holderness) (Con):
On a point of order, Mr. Deputy Speaker. I understand that there will no longer be time today to hold my Adjournment debate on the River Humber and River Hull flood management strategies, and I wonder whether I can ask through you, Mr. Deputy Speaker, that Mr. Speaker look favourably on my application when the House returns, because my constituents, who were looking forward to having their grievances heard, will be disappointed not to have done so this evening.
Mr. Deputy Speaker (Sir Michael Lord):
I can well understand the hon. Gentlemans disappointment at not being able to hold his Adjournment debate this 26 Nov 2008 : Column 855
evening. I am not in a position to guarantee these things, but I am quite sure that he will be able to have that debate early in the next parliamentary Session.
Sitting suspended, pursuant to Order [ 20 November ].
Message to attend the Lords Commissioners:
The House went;and, having returned:
Mr. Speaker: ( in the Clerk s place at the Table): I have to acquaint the House that the House has been to the House of Peers, where a Commission under the Great Seal was read, authorising the Royal Assent to the following Acts:
Education and Skills Act 2008
Local Transport Act 2008
Climate Change Act 2008
Counter-Terrorism Act 2008
Planning Act 2008
Pensions Act 2008
Dormant Bank and Building Society Accounts Act 2008
Energy Act 2008
26 Nov 2008 : Column 856
Her Majestys Most Gracious Speech
I have further to acquaint the House that the Lord President of the Council, one of the Lords Commissioners, delivered Her Majestys most Gracious Speech to both Houses of Parliament, in pursuance of Her Majestys Command. For greater accuracy I have obtained a copy, and also directed that the terms of the Speech be printed in the Journal of this House. Copies are being made available in the Vote Office.
Her Majestys Most Gracious Speech
My Lords and Members of the House of Commons
My Government has pursued policies to ensure economic stability, to respond to the rising aspirations of the people of the United Kingdom and to ensure security for all.
Legislation has been brought forward to protect depositors and to ensure confidence in the banking system.
An Act has been passed to enable unclaimed money in dormant bank accounts to be used for youth facilities, financial inclusion and social investment, while ensuring customers retain the right to reclaim their money.
An Act has been passed to reduce the regulatory burdens on businesses.
Legislation has been enacted to provide for long-term reform of pensions and place a duty on every employer to contribute to workplace pensions for their employees.
An Act has been passed to provide better protection for vulnerable workers and to reduce burdens on employers.
My Government has taken further action to meet people's aspirations for better education, housing and healthcare.
An Act has been passed to ensure that young people stay in education or training until the age of 18, and to provide new rights for adults to receive skills training.
A draft bill has been published to reform apprenticeships.
Legislation has been enacted to create a stronger health and adult social care regulator, with a remit to assure the safety and quality of care for patients and users of services.
An Act has been passed to reform the regulation of human embryology and to ensure that the United Kingdom remains at the forefront of medical research.
Legislation has been enacted to create a new Homes and Communities Agency that will deliver more social and affordable housing. It will promote regeneration and create a new Tenant Services Authority which will give tenants more choice and influence over how their homes are managed.
Legislation has been enacted to reform the planning system, providing for quicker and more transparent decision making, and to enable the introduction of the Community Infrastructure Levy.
My Government has worked to protect the environment and to tackle climate change, both at home and abroad.
Legislation has been enacted to make the United Kingdom the first country in the world to introduce a legally binding framework to reduce carbon emissions, by 80 per cent of the 1990 levels by 2050.
26 Nov 2008 : Column 857
Legislation has also been enacted to provide clean and secure supplies of energy.
An Act has been passed to tackle congestion and improve public transport.
My Government brought forward legislation to grant the powers to secure land, to build and to maintain the Crossrail scheme in the South East of England.
Legislation has been enacted to reform the criminal justice system with the aim of protecting the public and reducing offending.
An Act has been passed to protect the public from terrorism by improving powers to gather and share information and to ensure the effective prosecution of suspects.
A draft bill has been published on Citizenship and Immigration.
Legislation has been brought forward on the regulation of party finance and expenditure and to ensure the effective administration of elections.
Members of the House of Commons
I thank you for the provision you have made for the work and dignity of the Crown and for the public service.
My Lords and Members of the House of Commons
My Government continues to work closely with the devolved administrations in Scotland, Wales and Northern Ireland.
My Government has worked to secure a prosperous and secure European Union, better able to respond to the challenges of globalisation.
Legislation has been enacted which enabled the ratification of the European Union Lisbon Treaty.