Clause 186
Banking Bill
5:15 pm
Colin Breed (Shadow Minister, Treasury; South East Cornwall, Liberal Democrat)
That is the specific point I am making. If we are going to get down to the situation of people being authorised to undertake management functions in this way and therefore carrying some sort of approval by the Bank of England, that is fine, because that approval can be removed. The fact that approval has been removed will mean that they cannot continue to operate in the management role and so on. What is not clear is to what extent the Bank of England is now involving itself in the approval of management in those instances.