Financial Services and Markets Bill
Lord McIntosh of Haringey (Deputy Chief Whip (House of Lords), HM Household; Labour)
My Lords, that is an interesting point. I believe that the answer is that Amendment No. 80 provides equality for establishment and the provision of services, whereas paragraph 12, which Amendment No. 80 replaces, does not make that distinction. My understanding is that the directives only provide the right to cross-border services which are carried on in its own home state. Paragraph 14 reflects the narrower scope of the European Union directives. If I have got that wrong or not made it clear, I shall certainly be pleased to write to the noble Lord.