Clause 178
Banking Bill
12:45 pm
Peter Bone (Wellingborough, Conservative)
The clause touches on the tripartite arrangements, which are not unique. There are other areas where there is more than one agency responsible for a set of affairs, but usually there is a clear memorandum of working between the organisations, setting out which organisation is paramount in an area where things overlap. I am still not clear whether one organisation will come out on top when there is duplication. The clause deals with the relationship between the Bank and the FSA. We have been unable to see these memorandums of working, so will the Minister tell us whether there will be duplication? If there is, will the Bank, the Treasury or the FSA come out on top?