Clause 6 — Transfer of property, rights and liabilities

Part of Delegated Legislation – in the House of Commons at 8:30 pm on 21st February 2008.

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Question accordingly agreed to.

Lords amendment disagreed to.

Mr. Deputy Speaker then proceeded to put forthwith the Questions necessary to bring proceedings on the Lords amendments to a conclusion .

After Clause 10

Lords amendment: No. 2, insert the following new clause—

"Freedom of information

Where an authorised deposit-taker is subject to an order made under section 3 or where the property, rights and liabilities of an authorised UK deposit-taker have been transferred to a body corporate under section 6, that deposit-taker or body corporate shall be deemed—

(a) to be a publicly owned company for the purposes of section 3(1)(b);

(b) to hold information on behalf of the Treasury for the purposes of section 3(2)(b); of the Freedom of Information Act 2000 (c. 36)."

Motion made, and Question put, That this House disagrees with the Lords in the said amendment.— [Mr. Roy.]

The House divided: Ayes 268, Noes 171.