Banking (Special Provisions) Bill

I thank the Minister for his assurances. However, we believe that, in view of Northern Rock’s special circumstances and guarantees and the consequent cheap finance available to it, special measures to supervise its competitiveness are required. The other reason that it is important that the new clause is in the Bill is that, otherwise, later nationalisations under precautionary provisions will be in exactly the same position. I wish to test the opinion of the Committee. On Question, Whether the said amendment (No. 9) shall be agreed to? Their Lordships divided: Contents, 158; Not-Contents, 137. [Amendment No. 10 not moved.] Clause 11 [Modification of legislation applying in relation to building societies]: