Banking (Special Provisions) Bill

The noble Lord has been with us through many long hours, so he will recognise that I have all along argued for the Bill on two very obvious grounds. First, there are general purposes which apply for 12 months and will lapse. They are general because they apply to any conceivable institution in the event of an emergency which we do not anticipate and can therefore in no way, shape or form identify but merely make prudential legislation for. Secondly, there are the issues raised by Northern Rock. But because the Bill has these general objectives it is certainly not hybrid.