Clause 5 — The new Regulators
Financial Services Bill (Programme) (No. 3)
10:12 pm
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.
John McDonnell (Hayes and Harlington, Labour)
On a point of order, Mr Speaker. The main purpose of the Financial Services Bill—
John Bercow (Speaker)
Order. May I appeal to Members who are planning to leave the Chamber to do so quickly and quietly, so that the House can do John McDonnell the courtesy of listening to his point of order?
John McDonnell (Hayes and Harlington, Labour)
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.
John Bercow (Speaker)
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.