Legal Services Bill [HL]

My Lords, I beg to move that the House do disagree with the Commons in their Amendments Nos. 10 to 14, but do propose Amendments Nos. 10A, 11A, 11B, 12A, 13A, 14A and 14C in lieu. Perhaps I may point out that there was a mistake and a corrected amendment, Amendment No. 14C, has been tabled in lieu of Amendment No. 14B, which has been removed from the Marshalled List. These amendments bring us to the important question of the threshold limits on the exercise of broad powers and allow for the board to regulate proportionately and effectively. In this and the next group of amendments we will debate the appropriate style of the overarching regulator. I understand fully that this is very important. One wishes to get the benefits of having an overarching regulator, but in a way that does not cramp the style or micromanage the individual regulatory bodies. Getting the balance right is very important. We all recognise the importance of a board which, in accordance with Sir David Clementi’s recommendations, is an effective oversight regulator that allows the approved regulators to get on with their jobs but is able to take appropriate action where those regulators fail to do so. Consideration has been given to ensuring that, within that, we have a sensible relationship and that we do not raise the threshold so as to prevent the board from acting or to cause doubt or argument about its ability to act. Equally, we do not want the board trying to micromanage the activities of the regulatory bodies. We believe that this group of amendments provides that essential balance. I beg to move. Moved, That the House do disagree with the Commons in their Amendments Nos. 10 to 14, but do propose Amendments Nos. 10A, 11A, 11B, 12A, 13A, 14A and 14C in lieu.—(Lord Hunt of Kings Heath.)