I rise to support the remarks made by Mr. Hoban. At one stage, many of us thought that the Bill might never come back here at all. Considerable work has been done on it by a lot of people and it includes some important aspects for consumers, so it would have been a great shame if it had not proceeded.
The provisions are reasonable given that there has been relatively little consultation as a result of the speed that was being required to push the Bill through. In many respects, the Bill is part 1 of something that will continue to be looked at as we impose regulation and supervision of financial services. I am happy to support the amendments and to allow the Bill to go through.
I do not have the same concerns about clause 8 as Andrew Mackinlay. It had some belt-and-braces aspects and would not have had quite the impact he expected. Co-operation will clearly have to take place in that area. We shall not be able to introduce things off our own bat; we shall have to seek international support and co-operation and, as the hon. Member for Fareham said, there are already provisions in current legislation. However, certain aspects will have to be tightened up by the next Administration as they begin to push the measure through.
When the Treasury Committee visited Ireland a little while ago, we were amazed at the amount of credit union activity, but the mechanisms by which credit unions were administered or supervised were not raised with us. I am somewhat puzzled about the matter, so if the Minister has any helpful suggestions that would be good. It was certainly not something that the Committee considered was part of this legislation.
I echo the words of the hon. Member for Fareham about the Minister. We have had a good working relationship on various Committees, not least because of the way the Minister presented information and was always prepared to get us the additional information we required. I, too, wish him well in the future.
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