Clause 183
Banking Bill
5:00 pm
Peter Viggers (Gosport, Conservative)
I am concerned about a lack of specificity in clauses 181 to 183. Clause 183 states:
“The Bank of England may publish details of a compliance failure by the operator of a recognised inter-bank payment system.”
How will it get those details? I assume that it would get them under clause 181, as it
“may require the operator of a recognised inter-bank payment system to appoint an expert to report on the operation of the system.”
If I were starting from scratch, I would prefer to say in clause 181 that the Bank may appoint an expert at the cost of the operator.