Other instruments of interest
DRAFT BUILDING SOCIETIES ACT 1986 (ACCOUNTS, AUDIT
AND EUROPEAN ECONOMIC AREA STATE AMENDMENTS) ORDER 2008
BUILDING SOCIETIES (ACCOUNTS AND RELATED PROVISIONS)
(AMENDMENT) REGULATIONS 2008 (SI 2008/1143)
21. HM Treasury (HMT) have laid these related
instruments. The draft Order amends provisions of the Building
Societies Act 1986 relating to accounts and audit requirements,
and implements in part Directive 2006/43/EC1 ("the Audit
Directive") and 2006/46/EC2 ("the Accounts Directive").
The changes relate to several items, including disclosure of off-balance
sheet arrangements and disclosure of auditor remuneration. The
Regulations amend the Building Societies (Accounts and Related
Provisions) Regulations 1998 (SI 1998/504), and implement in part
the Accounts Directive. The changes relate to disclosure of related
party transactions and fair value accounting. The Department for
Business, Enterprise and Regulatory Reform (DBERR) have implemented
the Audit and the Accounts Directives for companies and other
entities in the Companies Act 2006 and in secondary legislation.
DBERR's implementation has also in part related to building societies;
in addition, however, implementation requires amendment of building
society legislation, for which HMT are responsible. HMT have said
that consultation responses from the trade associations were unanimous
in welcoming these implementation proposals.
DRAFT CASH RATIO DEPOSITS (VALUE BANDS AND RATIOS)
ORDER 2008
22. The Treasury have also laid the draft Cash
Ratio Deposits (Value Bands and Ratios) Order 2008. Under the
Cash Ratio Deposit (CRD) scheme, by which the Bank of England's
monetary policy and financial stability activities are financed,
institutions (such as banks and building societies) with "eligible
liabilities" are required to place a certain percentage of
the amount above a threshold at the Bank of England on a non-interest
bearing basis. Since 2003, the threshold has stood at £500
million and the ratio at 0.15%. Following a review carried out
last year, HMT have decided to keep the threshold at the same
level, but to reduce the percentage to 0.11%; the change is effected
by this Order. HMT have said that this will result in a one-off
repayment to the banking industry of CRDs currently held at the
Bank of England of around £700 million, and that they will
keep the parameters of the CRD scheme under active review.
DRAFT NURSING AND MIDWIFERY (AMENDMENT) ORDER 2008
23. This is the first of several Orders in Council
that will change the governance arrangements of the regulators
of the health care professions, along the lines set out in the
White Paper "Trust, Assurance and Safety - the Regulation
of Health Professionals in the 21st Century". This Order
extends the terms of office of the Nursing and Midwifery Council's
(NMC) existing registrant members on a transitional basis, until
either the new constitution order comes into force or they have
served a maximum of four years since they were elected, which
would be at the end of 31 July 2010. Until now, a quarter of
the registrant members have come up for re-election each year,
and so there is also a provision cancelling the annual elections
that would otherwise have taken place in 2008 and 2009. The Order
changing the membership of the NMC from mostly elected to fully
appointed is expected to follow shortly (a change advocated by
the EM). The opportunity has also been taken to make a number
of consequential changes to take account of new legislation including
the Safeguarding Vulnerable Groups Act 2006 and civil contingencies
requirements to provide plans for emergencies such as an outbreak
of pandemic influenza.
DRAFT PARLIAMENTARY CONSTITUENCIES (NORTHERN IRELAND)
ORDER 2008
24. Following recommendations by the Boundary
Commission for Northern Ireland of 14 September 2007, this instrument
changes the boundaries of 12 of the 18 constituencies in Northern
Ireland. The changes reflect movements in the numbers and location
of the electorate; in particular they accommodate the extension
outward of the four Belfast constituencies. The changes will not
take effect until the next general election is called.
CRIMINAL DEFENCE SERVICE (FUNDING) (AMENDMENT) ORDER
2008 (SI 2008/ 957)
25. Lord Carter of Coles' review of legal aid
recommended that a competitively-tendered panel of legal professionals
be introduced to handle long and complex cases, known as Very
High Cost Cases (VHCC). Legal professionals wishing to bid for
such work have to show a track record of experience in working
on such cases and meet appropriate quality standards. Although
sufficient solicitors have come forward, there is a significant
shortfall in the number of advocates applying to the panel. To
meet the needs of the judicial system, the current Order allows
advocates who have not signed a contract with the panel to be
used with the agreement of the Legal Services Commission, providing
they are subcontracted to an approved solicitor. Such advocates
will need to meet the same standards and will be paid the same
rate as those directly contracted to the panel.
CHILDCARE (EARLY YEARS REGISTER) REGULATIONS 2008
(SI 2008/974)
CHILDCARE (GENERAL CHILDCARE REGISTER) REGULATIONS
2008 (SI 2008/975)
CHILDCARE (EARLY YEARS AND GENERAL CHILDCARE REGISTERS)
(COMMON PROVISIONS) REGULATIONS 2008 (SI 2008/976)
26. The Department for Children, Schools and
Families (DCSF) have laid the Childcare (Early Years Register)
Regulations 2008 (SI 2008/974), the Childcare (General Childcare
Register) Regulations 2008 (SI 2008/975), and the Childcare (Early
Years And General Childcare Registers) (Common Provisions) Regulations
2008 (SI 2008/976). These related sets of Regulations make provision
about the registration of certain childcare providers in registers
operated by OFSTED. These are the Early Years Register (EYR),
for childminders (excluding nannies) and other providers of childcare
for children from the age of 0 to the September following their
fifth birthday; and the General Childcare Register (GCR), for
childminders and other providers of childcare for children from
the September following their fifth birthday up to the age of
8 (as well as children aged 8 and over). The Explanatory Memorandum
to the Regulations acknowledges that a number of those who responded
to the preceding consultation process expressed concerns about
DCSF's proposals on pre- or post-registration visits, and on the
proportion of providers to be inspected by OFSTED each year. We
obtained further information from the Department on these issues,
and this is printed at Appendix 2.
SEA FISHING (ENFORCEMENT OF COMMUNITY MEASURES) (PENALTY
NOTICES) ORDER 2008 (SI 2008/984)
27. The Department for Environment, Food and
Rural Affairs (DEFRA) have laid the Sea Fishing (Enforcement of
Community Measures) (Penalty Notices) Order 2008 (SI 2008/984),
introducing a scheme of financial penalty notices as an alternative
to prosecution for sea fishing offences relating to Community
obligations and restrictions. Payment of the penalty notice will
mean that criminal proceedings for the offence can no longer be
brought; non-payment will result in the original offence being
referred for prosecution. DEFRA have said that the aim is to improve
enforcement by providing a fast and effective means of sanctioning
offending. Penalty notices will be issued by enforcement officers
(overseen by the Marine and Fisheries Agency), in accordance with
detailed guidance, but the levels of the penalties are not specified
in the Order itself. While DEFRA have advised that there are precedents
for allowing a body to decide the amount a person must pay by
way of penalty without it being fully specified in legislation,
this is none the less an unusual approach.
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