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Financial Services (Implementation of Legislation) Bill [Lords]

Part of the debate – in the House of Commons at 6:16 pm on 11th February 2019.

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Photo of Mel Stride Mel Stride Financial Secretary to the Treasury and Paymaster General 6:16 pm, 11th February 2019

I thank my hon. Friend for his question. He is quite right, although the reference to the Securities Financing Transactions Regulation is, I think from memory, in clause 1(12), line 35 or thereabouts—the fourth file although the fifth measure in the list, the earlier two being combined. As to the main point on which he seeks clarification, the Bill will bring into effect those measures, as amended or otherwise, by affirmative statutory instrument at the time they are brought in. It will then be a case of the way in which those measures are dealt with in terms of the delegated powers to which he refers.