UK Parliament / Open data

Bank of England and Financial Services Bill [HL]

Debate on bills on Tuesday, 15 December 2015, in the House of Lords, led by Lord Bridges of Headley.
Lords report stage. New clauses agreed to. Amendment to clause 22 (Misconduct) disagreed to on division (198 votes to 200). Other amendments agreed to. Bill, as amended, ordered to be printed (HL Bill 83).

About these Parliamentary proceedings

Reference

767 cc1988-2054 

Session

2015-16

Department

Cabinet Office

Legislative stage

Report stage

Procedure

New clauses

Chamber / Committee

House of Lords chamber
Delegated Powers and Regulatory Reform Committee eleventh report.
Wednesday, 4 November 2015
Parliamentary committees
House of Lords
Delegated Powers and Regulatory Reform Committee twelfth report.
Monday, 9 November 2015
Parliamentary committees
House of Lords
Bank of England and Financial Services Bill (HL) 2015-16. As amended in Committee.
Wednesday, 11 November 2015
Bills
House of Lords
Delegated Powers and Regulatory Reform Committee sixteenth report.
Friday, 11 December 2015
Parliamentary committees
House of Lords

Show all related items (5)

Proceeding contributions

Lord Bridges of Headley | 767 c1988 (Link to this contribution)

Moved by

Lord Bridges of Headley

1: Clause 3, page 4, line 6, at end insert—

“(...

Lord Bridges of Headley | 767 cc1988-1991 (Link to this contribution)

My Lords, I am grateful for the discussions we have had on Bank governance to date. In this group...


Show all contributions (97)
Lord Eatwell | 767 c1991 (Link to this contribution)

Moved by

Lord Eatwell

2: Clause 3, line 3, at beginning insert “At the request of the...

Lord Eatwell | 767 cc1991-3 (Link to this contribution)

My Lords, this amendment seeks to provide the Treasury Select Committee of another place with the...

Lord Turnbull | 767 c1993 (Link to this contribution)

My Lords, I am somewhat puzzled by the amendment, because it seems to be a power which the Treasu...

Baroness Kramer | 767 c1993 (Link to this contribution)

My Lords, I have no wish to detain the House. The Government have listened to the concerns that w...

Baroness Wheatcroft | 767 c1993 (Link to this contribution)

My Lords, I echo the words of the noble Baroness, Lady Kramer. It seems that the Government have ...

Lord Myners | 767 cc1993-4 (Link to this contribution)

My Lords, I declare an interest as a former member of the Court of the Bank of England. I support...

Lord Davies of Oldham | 767 cc1994-5 (Link to this contribution)

My Lords, I am grateful to the Minister for his introduction to this debate. He will not have bee...

Lord Bridges of Headley | 767 cc1995-6 (Link to this contribution)

I begin by thanking the noble Lord, Lord Davies, for his kind words. Let me reciprocate by saying...

Lord Eatwell | 767 c1996 (Link to this contribution)

My Lords, I am impressed by the extensive lack of support for this amendment throughout the House...

Lord Bridges of Headley | 767 c1996 (Link to this contribution)

Moved by

Lord Bridges of Headley

3: Clause 4, page 4, line 10, leave out subsection (...

Lord Bridges of Headley | 767 c1997 (Link to this contribution)

Moved by

Lord Bridges of Headley

5: Clause 5, page 4, line 27, leave out subsections ...

Lord Bridges of Headley | 767 c1997 (Link to this contribution)

Moved by

Lord Bridges of Headley

6: Clause 11, page 9, line 28, leave out “general po...

Lord Bridges of Headley | 767 cc1997-9 (Link to this contribution)

My Lords, I turn to amendments on NAO reviews, which concern Clause 11. One of the objectives of ...

Lord Higgins | 767 c1999 (Link to this contribution)

My Lords, it was clear in the earlier stages of the Bill that there was significant conflict betw...

Lord Bichard | 767 c2000 (Link to this contribution)

My Lords, in declaring my interest as chairman of the National Audit Office Board I hope that I w...

Lord Young of Cookham | 767 c2000 (Link to this contribution)

My Lords, I also welcome the progress that my noble friend has made since we discussed this matte...

Baroness Kramer | 767 c2000 (Link to this contribution)

My Lords, I will not detain the House very long. The National Audit Office and the Bank of Englan...

Lord McFall of Alcluith | 767 cc2000-1 (Link to this contribution)

My Lords, I add my thanks to the Minister and others on this issue. I have had a letter from the ...

Lord Lester of Herne Hill | 767 c2001 (Link to this contribution)

My Lords, I have not taken any previous part in the debates on this Bill. I intervene only to exp...

Lord Myners | 767 c2001 (Link to this contribution)

My Lords, I also congratulate the Minister and the parties involved on finding a pragmatic and wo...

Baroness Noakes | 767 c2001 (Link to this contribution)

My Lords, the Comptroller and Auditor-General and the National Audit Office are in agreement with...

Lord Davies of Oldham | 767 c2002 (Link to this contribution)

My Lords, the Opposition are of course glad that peace has broken out. As a token of that peace, ...

Lord Bridges of Headley | 767 cc2002-3 (Link to this contribution)

My Lords, I thank all those who have offered me congratulations, which really should be to those ...

Lord Bridges of Headley | 767 cc2003-4 (Link to this contribution)

Moved by

Lord Bridges of Headley

7: Clause 11, page 9, line 28, at end insert—

...

Lord Bridges of Headley | 767 c2004 (Link to this contribution)

Moved by

Lord Bridges of Headley

10: Schedule 2, page 37, line 6, leave out ““Committ...

Lord Bridges of Headley | 767 c2004 (Link to this contribution)

Moved by

Lord Bridges of Headley

12: Schedule 3, page 48, line 28, leave out paragrap...

Lord Bridges of Headley | 767 cc2004-5 (Link to this contribution)

Moved by

Lord Ashton of Hyde

13: Before Clause 18, insert the following new Clause—

Lord Ashton of Hyde | 767 c2005 (Link to this contribution)

My Lords, this amendment provides for the Treasury to issue remit letters to the FCA, a measure f...

Baroness Kramer | 767 c2005 (Link to this contribution)

My Lords, our one concern with this amendment was that it could in some way compromise the statut...

Lord Davies of Oldham | 767 c2006 (Link to this contribution)

My Lords, I was going to make almost exactly the same contribution and my question was exactly al...

Lord Ashton of Hyde | 767 c2006 (Link to this contribution)

My Lords, I am very grateful to both the noble Baroness and the noble Lord, Lord Davies. I can on...

Baroness Kramer | 767 c2006 (Link to this contribution)

Moved by

Baroness Kramer

14: Before Clause 18, insert the following new Clause—

Baroness Kramer | 767 cc2006-7 (Link to this contribution)

My Lords, once upon a time not so long ago, small local banks and building societies—some of them...

Lord Davies of Oldham | 767 c2007 (Link to this contribution)

My Lords, the amendment tabled by the noble Lord, Lord Naseby, which the Government support, is a...

Lord Naseby | 767 cc2007-8 (Link to this contribution)

My Lords, I shall speak to the new clause which stands in my name as Amendment 15. In doing so, I...

Lord Ashton of Hyde | 767 c2008 (Link to this contribution)

My Lords, I am grateful to both the noble Baroness, Lady Kramer, and my noble friend Lord Naseby ...

Baroness Kramer | 767 c2008 (Link to this contribution)

Can I just add one point for the Minister? The FCA has recently completed a review of its competi...

Lord Ashton of Hyde | 767 cc2008-9 (Link to this contribution)

After this, it will be alert to the need to look at diversity. I will come to how we deal with mu...

Lord Naseby | 767 c2010 (Link to this contribution)

My Lords, I record my enormous thanks to Her Majesty’s Government, colleagues from across the Hou...

Lord Naseby | 767 c2010 (Link to this contribution)

Moved by

Lord Naseby

15: Before Clause 18, insert the following new Clause—

“Di...

Baroness Worthington | 767 c2010 (Link to this contribution)

Moved by

Baroness Worthington

16: Before Clause 18, insert the following new Clause—<...

Baroness Worthington | 767 cc2010-2 (Link to this contribution)

My Lords, in Committee we considered three issues relating to the wider sustainability of financi...

Lord Teverson | 767 c2012 (Link to this contribution)

My Lords, it is a great pleasure to speak to this amendment. Indeed, I had meant to put my name t...

Lord Davies of Oldham | 767 c2013 (Link to this contribution)

My Lords, it is only a short while ago that my noble friend Lady Worthington was speaking from th...

Lord Bridges of Headley | 767 cc2013-4 (Link to this contribution)

My Lords, I am sympathetic to the intent of the amendment, and it is important that the Governmen...

Baroness Worthington | 767 cc2014-5 (Link to this contribution)

My Lords, I am grateful to the Minister for his response. I am not entirely satisfied that this i...

Lord Bridges of Headley | 767 c2015 (Link to this contribution)

Moved by

Lord Bridges of Headley

17: Clause 19, page 15, line 21, leave out from begi...

Lord Bridges of Headley | 767 c2015 (Link to this contribution)

My Lords, Amendments 17, 18 and 19 make some small technical changes to the Bill. The purpose of ...

Lord Davies of Oldham | 767 c2015 (Link to this contribution)

My Lords, as these are technical changes we do nothing but endorse them and comment on the obviou...

Lord Bridges of Headley | 767 cc2015-6 (Link to this contribution)

Moved by

Lord Bridges of Headley

18: Clause 19, page 16, line 10, at end insert—

<...
Lord Bridges of Headley | 767 c2016 (Link to this contribution)

Moved by

Lord Bridges of Headley

19: Clause 20, page 17, line 17, at end insert—

<...
Lord Tunnicliffe | 767 c2016 (Link to this contribution)

Moved by

Lord Tunnicliffe

20: Clause 22, leave out Clause 22

Lord Tunnicliffe | 767 cc2016-8 (Link to this contribution)

My Lords, I rise with some trepidation to bring this period of peace to a close. I, too, have bee...

Lord Tunnicliffe | 767 cc2018-9 (Link to this contribution)

Thank you very much—the implementation of the reverse burden of proof. If I go back to my script,...

Baroness Kramer | 767 cc2019-2020 (Link to this contribution)

My Lords, I am going to speak only briefly on this issue. My noble friend Lord Sharkey, who is si...

Lord Brown of Eaton-under-Heywood | 767 c2020 (Link to this contribution)

My Lords, speaking purely as a superannuated judge with no particular expertise in banking, I opp...

Baroness Kramer | 767 c2021 (Link to this contribution)

I will just make a point of clarification, because a number of noble Lords have made this comment...

Lord Brown of Eaton-under-Heywood | 767 c2021 (Link to this contribution)

With respect, as I understand it, this is a punishable offence; therefore it is a criminal offenc...

Lord Sharkey | 767 c2021 (Link to this contribution)

Is the noble and learned Lord aware that the Minister who introduced the Financial Services (Bank...

Lord Brown of Eaton-under-Heywood | 767 cc2021-2 (Link to this contribution)

That is by no means conclusive of the issue. However, for the most part I am not hinging my argum...

Lord Grabiner | 767 cc2022-3 (Link to this contribution)

My Lords, I declare the interests shown under my name in the register. I should also declare that...

Lord Sharkey | 767 cc2024-6 (Link to this contribution)

My Lords, I have a short checklist of points that I would like to make. I start by thanking the n...

Lord Turnbull | 767 cc2025-8 (Link to this contribution)

My Lords, looking back over the discussions on this issue, inside and outside this House, I canno...

Baroness Kramer | 767 c2028 (Link to this contribution)

Perhaps I may ask a question of the noble Lord, Lord Turnbull. The FCA stated just over a week ag...

Lord Turnbull | 767 c2028 (Link to this contribution)

That is not exclusive. Elsewhere, there is still a duty of responsibility. There is still persona...

Lord Hunt of Wirral | 767 cc2028-9 (Link to this contribution)

After the speeches that we have heard, particularly that of the noble Lord, Lord Turnbull, I had ...

Lord Lawson of Blaby | 767 cc2029-2030 (Link to this contribution)

My Lords, like the noble Lord, Lord Turnbull, I was a member of the Parliamentary Commission on B...

Lord Brennan | 767 cc2030-1 (Link to this contribution)

My Lords, I support the amendment for three reasons, which I shall shortly state. First, there is...

Lord Pannick | 767 c2031 (Link to this contribution)

My Lords, I think we all agree that to impose a reverse burden of proof on a person to establish ...

Lord McFall of Alcluith | 767 cc2032-3 (Link to this contribution)

My Lords, I wish to speak up for the Parliamentary Commission on Banking Standards. Some of my co...

Lord Bridges of Headley | 767 cc2033-6 (Link to this contribution)

My Lords, this amendment has led to a very interesting debate. I would like to pick up on what th...

Lord Tunnicliffe | 767 cc2034-8 (Link to this contribution)

My Lords, I am conscious that there are two possible tests for deciding when to bring a debate to...

Lord Ashton of Hyde | 767 c2037 (Link to this contribution)

Moved by

Lord Ashton of Hyde

21: Clause 26, page 22, line 6, at end insert—

“( ...

Lord Ashton of Hyde | 767 c2037 (Link to this contribution)

My Lords, this may not be quite so interesting. Clause 26 will introduce a power into the Financi...

Lord Davies of Oldham | 767 c2037 (Link to this contribution)

My Lords, the Government received good advice from the Delegated Powers Committee. I am surprised...

Lord Ashton of Hyde | 767 c2042 (Link to this contribution)

I am grateful to the noble Lord for those comments.

Lord Bridges of Headley | 767 c2042 (Link to this contribution)

Moved by

Lord Bridges of Headley

22: Clause 27, page 22, line 41, after “(2A)” insert...

Lord Bridges of Headley | 767 cc2042-3 (Link to this contribution)

My Lords, this group makes several small pensions amendments, which I shall highlight briefly.

Lord Bridges of Headley | 767 c2043 (Link to this contribution)

Moved by

Lord Bridges of Headley

23: Clause 27, page 22, line 41, leave out “Treasury...

Lord Bridges of Headley | 767 cc2043-4 (Link to this contribution)

Moved by

Lord Bridges of Headley

25: After Clause 27, insert the following new Clause...

Lord Bridges of Headley | 767 cc2044-6 (Link to this contribution)

My Lords, this amendment introduces an advice requirement for some of those consumers who wish to...

Baroness Drake | 767 cc2046-8 (Link to this contribution)

My Lords, I refer to my entry in the register of interests, in particular my membership of the bo...

Lord McKenzie of Luton | 767 cc2047-2050 (Link to this contribution)

My Lords, I will speak briefly to Amendment 25. I thank the noble Lord, Lord Bridges, for his cou...

Lord Davies of Oldham | 767 c2050 (Link to this contribution)

My Lords, I am not here to pile Pelion upon Ossa. I counted that at least 12 questions of conside...

Lord Bridges of Headley | 767 cc2050-1 (Link to this contribution)

I start by thanking the noble Baroness, Lady Drake, and the noble Lord, Lord McKenzie, for sparin...

Lord Bridges of Headley | 767 cc2051-2 (Link to this contribution)

Moved by

Lord Bridges of Headley

26: After Clause 27, insert the following new Clause...

Lord Ashton of Hyde | 767 c2052 (Link to this contribution)

Moved by

Lord Bridges of Headley

27: After Clause 28, insert the following new Clause...

Lord Bridges of Headley | 767 cc2052-3 (Link to this contribution)

My Lords, the amendments in this group are being made to correct an error made in the National Sa...

Lord Davies of Oldham | 767 c2053 (Link to this contribution)

My Lords, I have seen some responses of a technical nature from Governments in the past which hav...

Lord Ashton of Hyde | 767 c2053 (Link to this contribution)

Moved by

Lord Bridges of Headley

28: Clause 29, page 27, line 44, leave out “and publ...

Lord Bridges of Headley | 767 c2053 (Link to this contribution)

Finally, my Lords, this amendment implements a recommendation of the Delegated Powers Committee m...

Lord Davies of Oldham | 767 c2054 (Link to this contribution)

My Lords, we are in complete agreement with the Government on this amendment.

Lord Ashton of Hyde | 767 c2054 (Link to this contribution)

Moved by

Lord Bridges of Headley

29: Clause 30, page 28, line 30, after “Treasury” in...

Lord Ashton of Hyde | 767 c2054 (Link to this contribution)

Moved by

Lord Bridges of Headley

30: Clause 32, page 29, line 22, at end insert—

<...
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