Clause 71 - Short title, commencement and extent
Consumer Credit Bill
5:45 pm
Gerry Sutcliffe (Parliamentary Under-Secretary (Employment Relations and Consumer Affairs), Department of Trade and Industry; Bradford South, Labour)
I understand where the hon. Gentleman is coming from; he is heading in the right direction. I appreciate the points that he makes. He will know from the previous discussions on the regulations that flow from the White Paper that the industry had concerns about the need to change systems. The Government listened to those concerns as well as to those about the size of companies involved. Because the Bill has had widespread consensus and has been welcomed by all sides, it would only be fair to ensure that we did not impose burdens on business. Where there is a legitimate case for a timeframe to be put in place, we are happy to discuss that with the industry. Consultation will take place with all the interested stakeholders, ranging from small businesses and lenders to large companies that can accommodate change quicker than the rest. The hon. Gentleman will know that in the context of better regulation, the Government are required to ensure that all changes that take place are proportionate. Changes will be implemented after secondary legislation, and following full discussion and consultation with all necessary stakeholders.
On the question of Northern Ireland, I agree with the hon. Gentleman that the sooner the situation can be resolved for the Assembly, the better; it is in the best interests of all concerned. On this Bill, Northern Ireland Ministers specifically requested that jurisdiction be extended to Northern Ireland. That will be reviewed following any subsequent change in the circumstances in Northern Ireland.
Given those explanations, I hope that members of the Committee will support this, the final, clause.
Question put and agreed to.
Clause 71 ordered to stand part of the Bill.