UK Parliament / Open data

Banking (Special Provisions) Bill

Debate on bills on Wednesday, 20 February 2008, in the House of Lords, led by Lord Davies of Oldham. The answering member was Lord De Mauley.
Banking (Special Provisions) Bill. Lords Second Reading debate. Agreed to on question and committed to a Committee of the Whole House.

About these Parliamentary proceedings

Reference

699 c189-264 

Session

2007-08

Department

Treasury

Legislative stage

Second reading

Chamber / Committee

House of Lords chamber

Related items

Banking (Special Provisions) Bill. Brought from the Commons. Explanatory Notes HL Bill 34-EN also published.
Wednesday, 20 February 2008
Bills
House of Lords
Deposited Paper DEP2008-0493
Wednesday, 20 February 2008
Deposited papers
House of Lords
House of Commons

Proceeding contributions

Lord Eatwell | 699 c248-9 (Link to this contribution) My Lords, I entirely agree with the noble Lord, which is why I suggested that the Government should ...
Lord Davies of Oldham | 699 c262-3 (Link to this contribution) My Lords, we will act only with regard to Northern Rock under the legislation, as the noble Lord wil...

Show all contributions (71)
Lord Best | 699 c261 (Link to this contribution) My Lords, I am not being argumentative, but I said specifically that this is not a return to the nat...
Lord Davies of Oldham | 699 c194-5 (Link to this contribution) My Lords, all of those facts will be clear to the European Commission. It is also the case that our ...
Lord Davies of Oldham | 699 c195 (Link to this contribution) Well, my Lords, it is clear that the future position of Northern Rock will be subject to the judgmen...
Lord Higgins | 699 c193 (Link to this contribution) My Lords, I apologise for persisting, but is it true, as was alleged, that the Granite assets appear...
Lord Davies of Oldham | 699 c193-4 (Link to this contribution) My Lords, I am taking steps to remedy the position with regard to the letter, I hope in very good ti...
Lord Lang of Monkton | 699 c204-6 (Link to this contribution) My Lords, nothing better characterises the drift, muddle and fudge of the Government’s economic and ...
Lord Newby | 699 c203-4 (Link to this contribution) The bank will operate at arm’s length on issues such as the detail of interest rates and repossessio...
Lord Forsyth of Drumlean | 699 c203 (Link to this contribution) My Lords, I am not clear what the noble Lord is saying. On the one hand he is saying that the bank s...
Viscount Bledisloe | 699 c196 (Link to this contribution) My Lords, the noble Lord referred, albeit fleetingly, to the sunset clause. Why should not the perio...
Lord Eatwell | 699 c198 (Link to this contribution) My Lords, will the noble Lord confirm that, in the case of Johnson Matthey, there was but one shareh...
Lord Lawson of Blaby | 699 c197-8 (Link to this contribution) My Lords, the whole House has the greatest sympathy for the Minister for the manifest embarrassment ...
Lord Davies of Oldham | 699 c193 (Link to this contribution) My Lords, as this speech is going to take quite a long time, I might be able to answer that question...
Lord Forsyth of Drumlean | 699 c190 (Link to this contribution) My Lords, I apologise to the Minister for interrupting. I have read the debate in the other place th...
Viscount Eccles | 699 c245-7 (Link to this contribution) My Lords, my noble friend, and wife, Lady Eccles and I live 12 miles from Darlington. We have always...
Lord Lipsey | 699 c243-5 (Link to this contribution) My Lords, it is always a great pleasure to follow the noble Lord, Lord Marlesford, in this House, as...
Baroness Ford | 699 c238-40 (Link to this contribution) My Lords, I support the Bill before the House to enable the Government to take Northern Rock into te...
Lord Shutt of Greetland | 699 c236-7 (Link to this contribution) My Lords, the Title of this Bill is Banking (Special Provisions), and special it certainly is. The w...
Lord Naseby | 699 c233-6 (Link to this contribution) My Lords, I, too, am conscious of the need not to repeat speeches that have already been made. I wan...
Lord Bell | 699 c232-3 (Link to this contribution) My Lords, I rarely speak in the House. One reason is that, as the noble Lord, Lord Forsyth, pointed ...
Lord Eatwell | 699 c247-8 (Link to this contribution) My Lords, I will address part of the wider context of recent events, particularly the events surroun...
Lord Lawson of Blaby | 699 c248 (Link to this contribution) My Lords, first, the difference is very important and significant, for reasons that I indicated in m...
Lord Naseby | 699 c223 (Link to this contribution) My Lords, am I right in remembering that, at the time, the Government said that the Bill to which he...
Earl Ferrers | 699 c221-3 (Link to this contribution) Well, my Lords, we have to give them a little help somewhere. We all thought that that was the end ...
Baroness Kingsmill | 699 c224-5 (Link to this contribution) My Lords, it might be appropriate at this stage to have a little context on why we are here. We have...
Earl Ferrers | 699 c223-4 (Link to this contribution) My Lords, my noble friend is half right and half wrong. There was a fearful row about whether it was...
Baroness Kingsmill | 699 c225-6 (Link to this contribution) My Lords, the guarantees mean that Northern Rock will attract more depositors who are seeking securi...
Lord Lawson of Blaby | 699 c215 (Link to this contribution) My Lords, the Minister addressed that briefly in his opening speech when he said that Lloyds had not...
Lord Marland | 699 c214 (Link to this contribution) My Lords, Mr Sandler’s main experience was generated in running or in trying to convert Lloyds, whic...
Lord Stewartby | 699 c215-6 (Link to this contribution) My Lords, that is exactly the point. I used to run around the corridors for my noble friend Lord Law...
Earl Ferrers | 699 c263 (Link to this contribution) My Lords, I have been trying to follow this. I think what the Minister said in the end, in answer to...
Lord Forsyth of Drumlean | 699 c262 (Link to this contribution) My Lords, I apologise for interrupting the Minister, but was he implying that the powers in the Bill...
Lord Davies of Oldham | 699 c261-2 (Link to this contribution) My Lords, I am glad to see that the noble Lord is not taking us that far back, but he did emphasise ...
Lord De Mauley | 699 c256-60 (Link to this contribution) My Lords, I thank the Minister for introducing the Bill and I echo the sympathy for him that one or ...
Lord Oakeshott of Seagrove Bay | 699 c252-6 (Link to this contribution) My Lords, I declare an interest as a pension fund manager for the past 32 years. I am not sure wheth...
Lord Selsdon | 699 c250-2 (Link to this contribution) My Lords, it is extraordinarily difficult for me to follow the enormous quantity and quality of priv...
Lord Davies of Oldham | 699 c263-4 (Link to this contribution) My Lords, of course the clauses which are subject to the sunset provisions obtain over the next 12 m...
Lord Campbell of Alloway | 699 c195 (Link to this contribution) My Lords, that is not, as I hope that the noble Lord will agree, what the Government will approve. W...
Lord Davies of Oldham | 699 c195-6 (Link to this contribution) My Lords, the House will appreciate the authority with which my noble friend speaks on this matter. ...
Baroness Kingsmill | 699 c195 (Link to this contribution) My Lords, I know from my personal capacity that the European Commission is looking at this deal very...
Lord Davies of Oldham | 699 c193 (Link to this contribution) My Lords, I cannot answer that question directly, but I have given the noble Lord a clear indication...
Earl Ferrers | 699 c193 (Link to this contribution) My Lords, this is actually quite important, because my noble friend said in his question that Granit...
Lord Newby | 699 c200-3 (Link to this contribution) My Lords, I sometimes sense, when listening to debates in your Lordships’ House, that noble Lords ha...
Lord Trimble | 699 c206-10 (Link to this contribution) My Lords, the Minister, like the Prime Minister earlier today at Prime Minister’s Questions, reitera...
Lord Lawson of Blaby | 699 c198-200 (Link to this contribution) My Lords, I explained that that case was simpler. In fact, however, there was no loss to the public ...
Lord Davies of Oldham | 699 c189-90 (Link to this contribution) My Lords, I beg to move that this Bill be now read a second time. In the Chancellor’s Statement whi...
Lord Davies of Oldham | 699 c193 (Link to this contribution) My Lords, that seems an entirely reasonable request. When I indicated that the letter had been sent ...
Lord Newby | 699 c193 (Link to this contribution) My Lords, I am sorry to interrupt the noble Lord but he referred to a letter which allegedly has bee...
Lord Marlesford | 699 c192 (Link to this contribution) My Lords, before the noble Lord leaves the world of mineralogy, could he tell us about another SIV w...
Lord Higgins | 699 c192 (Link to this contribution) My Lords, the noble Lord said at the beginning of his remarks on Granite that its sole purpose was t...
Lord Davies of Oldham | 699 c192 (Link to this contribution) My Lords, first, I emphasise that this issue regarding Granite was raised in the other place yesterd...
Lord Davies of Oldham | 699 c190-2 (Link to this contribution) My Lords, full consideration was given to that proposal. It did not meet all the Government’s requir...
Lord Barnett | 699 c192 (Link to this contribution) My Lords, I wonder whether my noble friend will allow me to intervene. In the last published stateme...
Lord Ryder of Wensum | 699 c237-8 (Link to this contribution) My Lords, I appreciate that the regulatory consequences of the collapse of Northern Rock will not be...
Lord Forsyth of Drumlean | 699 c225 (Link to this contribution) My Lords, on competition and the point that was made earlier, Northern Rock is offering very much mo...
Lord Lyell of Markyate | 699 c226-8 (Link to this contribution) My Lords, I am glad to follow the noble Baroness, Lady Kingsmill, because I agree with her on one th...
Lord Higgins | 699 c228-30 (Link to this contribution) My Lords, this is a dangerous and damaging Bill. It will certainly not bring the Northern Rock saga ...
Lord Desai | 699 c230-2 (Link to this contribution) My Lords, it is a great pleasure to follow the noble Lord, Lord Higgins. I start by pointing out tha...
Lord Marland | 699 c212-4 (Link to this contribution) My Lords, I declare an interest as a financial backer of the management team bid, which I do not dis...
Lord Goodhart | 699 c210-2 (Link to this contribution) My Lords, I am speaking in my capacity as chairman of the Delegated Powers Committee and only in tha...
Lord Stewartby | 699 c214-5 (Link to this contribution) My Lords, I do not know whether I am the only one of your Lordships who came to this debate not only...
Lord Eatwell | 699 c214 (Link to this contribution) My Lords, the noble Lord referred to the board. Could he confirm that Mr Sandler, who happens to be ...
Lord Forsyth of Drumlean | 699 c218-21 (Link to this contribution) My Lords, by this stage in the evening, most of the points that one wants to make have already been ...
Earl Ferrers | 699 c221 (Link to this contribution) My Lords, whenever we have controversial Bills such as this there is always some poor blighter in th...
Lord Davies of Oldham | 699 c260-1 (Link to this contribution) My Lords, I am grateful to all noble Lords who have spoken in this excellent debate and I accept, in...
Lord Naseby | 699 c194 (Link to this contribution) My Lords, the Minister says that this bank may not expand its business, yet it has 20 per cent of th...
Lord Bilimoria | 699 c216-8 (Link to this contribution) My Lords, when I first started my business, I was introduced to a well known businessman who told me...
Lord Davies of Oldham | 699 c196-7 (Link to this contribution) No, my Lords, it is not that. As I said as a background to the Bill, we intend to introduce legislat...
Lord Davies of Oldham | 699 c192 (Link to this contribution) My Lords, as I have indicated, there is a letter in the Library that spells out all the aspects rega...
Lord Marlesford | 699 c240-3 (Link to this contribution) My Lords, I would really like to be able to acquit the Government of blame for the collapse of North...

Subjects

Compensation
Accountability
Administration
Assets
Banks
Competition
Building societies
Bank of England
Freedom of information
Liability
Government assistance
Financial Services Authority
Public bodies
Mortgages
Loans
Staff
Nationalisation
Lloyds TSB
Shares
Shareholders
Takeovers
Northern Rock
Granite
Sunset clauses

Legislation

Banking (Special Provisions) Bill 2007-08

Link

View this Parliamentary proceeding on www.publications.parliament.uk
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