Clause 6 — Transfer of property, rights and liabilities

Part of Delegated Legislation – in the House of Commons at 8:00 pm on 21st February 2008.

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Photo of Yvette Cooper Yvette Cooper The Chief Secretary to the Treasury 8:00 pm, 21st February 2008

We are taking the bank into public ownership for a reason that is in the public interest—that is rather different from the ongoing function that the bank performs. That is a different, private banking function, and we want to get the bank into the private sector as rapidly as possible.