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Banking Bill — Committee (4th Day)

Part of the debate – in the House of Lords at 5:45 pm on 20th January 2009.

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Photo of Lord Davies of Oldham Lord Davies of Oldham Deputy Chief Whip (House of Lords), HM Household, Captain of the Queen's Bodyguard of the Yeomen of the Guard (HM Household) (Deputy Chief Whip, House of Lords) 5:45 pm, 20th January 2009

It was not used retrospectively, but it did interfere with existing law and applied differently under the special powers. Clause 75 is concerned with that broad position. Perhaps when introducing the case of Northern Rock to the argument, I should have done so more carefully by saying how it used one law to take primacy over another—the law relating to the special powers of the Northern Rock provision. I concede that it did not quite fit the same category of retrospection.