Consumer Credit Bill

It is easy to answer that. It was the power of the argument, especially from some of the noble Lords, from their experience on various boards. Lord Borrie had also been involved with the OFT. It was the weight of discussion and the opportunity for the OFT to have that power in the licensing function. I make the distinction between the licensing function and the duty to lend responsibly. The Lords amendments are important to our discussion. We have gone through all the aspects thoroughly, both this evening and previously. The Bill has been well consulted upon. It became part of the process following the consumer credit White Paper, which again was fully consulted upon. The Legislative and Regulatory Reform Bill stands alone in that it has not completed its passage through the House. In amendment No. 5, we rightly acknowledge and respond to the concerns of the Regulatory Reform Committee in relation to clause 68. I have dealt with the point about data sharing. Implementation is a key issue. A timetable will be produced. We are cognisant of the fact that there need to be IT systems changes, and experts from the industry will be seconded to the Department to offer advice and assistance when we draw up the various regulations. This has been a thoughtful debate, and I hope that the House will support the Lords amendments. Lords amendment agreed to. Lords amendments Nos. 2 to 5 agreed to.