Clause 172
Banking Bill
12:00 pm
Peter Bone (Wellingborough, Conservative)
I think that clause 172(1) is the “going out to lunch” part of the Bill. In the past, the Bank of England, the Treasury and the operator would get together and talk things over, and this subsection tries to re-create that consultation. If at the end of the consultation the Bank of England and the operator took the same view but the Treasury took a different one, it is not clear whether the Treasury’s view would necessarily go ahead, even if the other two parties were against it.