Building Societies (Funding) and Mutual Societies (Transfers) Bill

My Lords, I shall be brief, but I want to say how grateful I am to the Government’s business managers for making time for a Private Member’s Bill; it is much appreciated. I also thank all noble Lords who have contributed this afternoon and unanimously supported the Bill. Just as a reflection on a soft sector, I point out to my noble friend Lady Noakes that the child trust fund was open to all financial companies throughout the United Kingdom. At the last check that I made on it, well over 60 per cent of the businesses were taken up by the mutual movement, which has frankly thrashed the other sector in terms of performance. Perhaps in a modern environment with a new product it is the soft mutuals that provide the successful company format. Nevertheless, I thank all those who have contributed this afternoon. My colleagues and I who are involved in the Bill will read all the contributions very carefully and will try to take them on board. On Question, Bill read a second time, and committed to a Committee of the Whole House.