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 Howard of Rising Lord Howard of Rising Shadow Minister, Culture, Media & Sport, Shadow Minister, Cabinet Office, Shadow Minister, Treasury 5:45 pm, 20th January 2009

I find it rather odd that the Minister should use Northern Rock as an example when, plainly, it was not. He referred to contracts coming under different parts of the law and that a contract could be written under one part of the law, but that would then change. Actually, the amendment proposes that a contract or agreement written under the law should remain written under that law and that any subsequent changes to that law should not affect that contract.