Clause 5 — The new Regulators

Financial Services Bill (Programme) (No. 3) – in the House of Commons at 10:12 pm on 23 April 2012.

Alert me about debates like this

Votes in this debate

Amendment proposed: 28, page 15, line 4, leave out clause 5.—(Chris Leslie .)

Question put, That the amendment be made.

The House divided:

Ayes 205, Noes 301.

Division number 533 Financial Services Bill (Programme) (No. 3) — Clause 5 — The new Regulators

Aye: 205 MPs

No: 301 MPs

Aye: A-Z by last name

Tellers

No: A-Z by last name

Tellers

Question accordingly negatived.

Amendments made: 1, page 34, line 21, leave out ‘considers’ and insert

‘after consulting the Treasury, decides’.

Amendment 2, page 37, line 15, at end insert—

‘(4A) The FCA may enter into arrangements with a local weights and measures authority in England, Wales or Scotland for the provision by the authority to the FCA of services which relate to activities that are regulated activities by virtue of—

(a) an order made under section 22(1) in relation to an investment of a kind falling within paragraph 23 or 23B of Schedule 2, or

(b) an order made under section 22(1A).’.

Amendment 3, page 37, line 34, leave out ‘the supply of particular’ and insert

‘particular decisions relating to different’.—[Mr Hoban.]

Bill to be further considered tomorrow.

Photo of John Martin McDonnell John Martin McDonnell Labour, Hayes and Harlington

On a point of order, Mr Speaker. The main purpose of the Financial Services Bill—

Photo of John Martin McDonnell John Martin McDonnell Labour, Hayes and Harlington

Thank you, Mr Speaker.

The main purpose of the Financial Services Bill was to secure corporate responsibility in the financial sector, and the batch of amendments that were not reached dealt specifically with corporate responsibility. May I, through you, Mr Speaker, convey a message to the Leader of the House, who is present? There will be a second day of debate on the Bill, and he may well wish to look at the programme motion again to establish whether we can debate the important elements of those amendments on that second day.

Photo of John Bercow John Bercow Chair, Speaker's Committee for the Independent Parliamentary Standards Authority, Chair, Speaker's Committee on the Electoral Commission, Speaker of the House of Commons, Speaker of the House of Commons, Chair, Speaker's Committee for the Independent Parliamentary Standards Authority, Chair, Speaker's Committee on the Electoral Commission

I am grateful to the hon. Gentleman for his point of order. Let me say two things to him in response to it. First, as he can see with his own eyes, the Leader of the House is present, and will have heard what he has said. Secondly, business questions on Thursday will provide a good opportunity for him to pursue the matter further—and, knowing his indefatigability, I expect to see him in his place on that occasion.