Clause 201
Banking Bill
6:15 pm
David Gauke (Shadow Minister, Treasury; South West Hertfordshire, Conservative)
May I make a point that could be made in relation to either clause 201 or clause 202? Clause 201 states that the banknote regulations must be made through the affirmative procedure, which we welcome, but clause 202 states that the Bank of England may make banknote rules. In those circumstances, there will be no direct parliamentary scrutiny, and I query whether the affirmative resolution procedure will prove to be as useful as it at first appears. The Minister has provided us with an early draft of the banknote regulations, but am I right to think that Parliament might not have an opportunity to scrutinise those rules?