New Clause 12 — Special resolution regime: Continuity obligations: onward property transfers

Part of Orders of the Day – in the House of Commons at 6:00 pm on 26th November 2008.

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Photo of Mark Hoban Mark Hoban Shadow Minister (Treasury) 6:00 pm, 26th November 2008

The Minister cites fraud as an example of an area where the threshold conditions could be breached and the FSA could intervene. The threshold conditions are designed to determine whether businesses should become regulated. If he is trying to broaden out the basis on which the FSA should intervene beyond the threshold conditions in the legislation, the Government need to be much clearer about that than they are being in the Bill's drafting. Is he making an argument that the potential triggers could go beyond the conditions that a bank has to satisfy to be regulated?

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