Banking (Special Provisions) Bill

Part of the debate – in the House of Lords at 11:45 am on 21st February 2008.

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Photo of Lord Ryder of Wensum Lord Ryder of Wensum Conservative 11:45 am, 21st February 2008

When this matter was debated in the other place, the Minister, Yvette Cooper, fell back, rather half-heartedly, on the argument that the 12-month period was required because she was undertaking a consultation exercise on the potential reform of the supervision of the banking system. Why is it that she requires 12 months for consultation? She could undertake one month's consultation and if, at the end of that consultation process, it was concluded that 12 months was preferable, it could be reinserted.