Clause 21 - Scope of emergency regulations
Civil Contingencies Bill
2:45 pm
Ms Fiona Mactaggart (Parliamentary Under-Secretary (Race Equality, Community Policy and Civil Renewal), Home Office; Slough, Labour)
The hon. Gentleman is correct. If a provision does not meet the overarching condition in subsection (1), even if it is of the nature described in subsection (2), it would not be possible to make it. Therefore, his point is accurate. If I did not make that clear, I apologise to the Committee.
The hon. Members for Orpington (Mr. Horam) and for Newark (Patrick Mercer) asked what financial institutions were if they were not the banks, and that is an important point. They would include insurance companies, building societies, friendly societies, credit unions and other institutions of that type. The term is commonly used in legislation without further definition. Supermarkets, for example, would not be financial institutions, but, in response to the point made by the hon. Member for Orpington, financial markets such as LIFFE might be.