Banking (Special Provisions) Bill

I am sure that my colleagues on the Delegated Powers and Regulatory Reform Committee and I will be grateful for small mercies here. Perhaps they are medium-sized mercies rather than small ones. We certainly welcome the alterations, in particular to Clause 11, and the extension of the affirmative procedure to Clauses 5 and 7—the compensation provisions. We do of course regret that the Government have felt unable to accept the most important of our recommendations on the use of the affirmative procedure for orders made under Clauses 3, 4 and 6.