Banking (Special Provisions) Bill

Part of the debate – in the House of Lords at 12:00 pm on 21st February 2008.

Alert me about debates like this

Photo of Lord Elystan-Morgan Lord Elystan-Morgan Crossbench 12:00 pm, 21st February 2008

There may be one, two or three good reasons why there should be the 12-month period, with the power of public acquisition during that period. Fundamentally, what is important is the question of hybridity. I assume in relation to the period of 12 months that the Government have received advice from their legal advisers that it is safe and copper-bottomed. What shorter period would be safe and copper-bottomed? That is where we go into the area of doubt. I do not know whether it is possible to have a definitive decision on this matter. Am I right in thinking that, in fact, the Speaker of the House of Commons certifies hybridity, in the same way as he certifies a money Bill? Has he given any indication of his attitude to a month? If a month is either impossible or dangerous, then most certainly this House should not contemplate any amendment along those lines.