My Lords, perhaps a London born and bred Scot--half Scot at any rate--may be allowed to intervene in this matter. We are extremely grateful to the noble Viscount for introducing this Bill, which will allow banks in Scotland to drop antiquated procedures, make administrative costs savings, and offer a more streamlined service to customers.

As the noble Viscount made clear, it is a technical measure to correct an anomaly whose origins are lost in the mists of time, by which I really mean Scots common law. Of course, that is why it cannot be dealt with under deregulation powers. Deregulation powers to amend primary legislation are restricted to statute law and cannot affect common law, as this Bill must do.

It is 11 years now since the Jack report and the Scottish Office public consultations whose results were announced in 1993. That consultation showed that abolition of the funds-attached rule is the right way forward. Attachment of funds has no friends. This is a good opportunity to demonstrate that Westminster is mindful of Scottish interests. The Government will not resist this measure.