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

moved Amendment No. 7: 7: After Clause 4, insert the following new Clause— ““Channel Islands and Isle of Man Her Majesty may by Order in Council provide for any of the provisions of this Act to extend, with or without modifications, to any of the Channel Islands or to the Isle of Man.”” The noble Lord said: The final amendment allows the provisions of the Bill to be extended to the Channel Islands and the Isle of Man, with modifications if appropriate. Although not all the current mutuals legislation is so extended, it has the capacity to be so, and it makes sense that this Bill should have the same powers. The authorities in the islands have been consulted and agree with this approach. It was not possible to introduce this clause in the other place as there was insufficient time to consult the islands. I beg to move.