Banking (Special Provisions) Bill

Part of the debate – in the House of Lords at 2:51 pm on 21st February 2008.

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Photo of Lord de Mauley Lord de Mauley Shadow Minister, Cabinet Office 2:51 pm, 21st February 2008

moved Amendment No. 9:

After Clause 10, insert the following new Clause—

"Impact on competition

Where an authorised deposit taker is subject to an order made under section 3, or where the property, rights and liabilities of an authorised UK deposit taker have been transferred to a body corporate under section 6, the Office of Fair Trading shall—

(a) lay before Parliament annually a report on the impact of the competitiveness of the market in the UK of the activities of the authorised deposit-taker or of the body corporate to which property rights and liabilities have been transferred (as the case may be); and(b) report to Parliament as soon as it identifies a significant adverse effect on the competitiveness of the market in the United Kingdom as a result of the activities of the authorised deposit-taker or of the body corporate to which property rights and liabilities have been transferred (as the case may be)."