My Lords, for the record, these amendments cover exactly 52 pages. The only other point I wish to make—I agree with the noble
Lord, Lord Eatwell, here—is that, despite the payment system having its own regulator, new subsection (3) of government Amendment 60B states:
“The FCA must take such steps as are necessary to ensure that the Payment Systems Regulator is, at all times, capable of exercising”,
its functions. It has the job of overseeing the regulator, so why on earth does it not do the job itself?