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Part of Bank of England and Financial Services Bill [HL] – in the House of Lords at 4:45 pm on 15th December 2015.

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Photo of Lord Young of Cookham Lord Young of Cookham Conservative 4:45 pm, 15th December 2015

My Lords, I also welcome the progress that my noble friend has made since we discussed this matter on 9 November, when concern was expressed that we had not got the interface between these two independent institutions in the right place. I was delighted to hear that peace has broken out between these two institutions. My noble friend said that the memorandum of understanding would be published in due course. My noble friend Lord Higgins pressed him a little further. Will it be available during the passage of the Bill, which started in this House and will go to another place, because I am sure that it would be of interest? Finally, does one really need proposed new paragraph (d) in Amendment 9 in the memorandum of understanding? If under proposed new paragraph (c) a procedure has been established,

“for resolving in a timely fashion any dispute”,

why does one need paragraph (d), which asks for a procedure where the dispute has not been resolved?