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Part of Bank of England and Financial Services Bill [HL] – in the House of Lords at 5:30 pm on 15th December 2015.

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Photo of Lord Davies of Oldham Lord Davies of Oldham Shadow Spokesperson (Treasury) 5:30 pm, 15th December 2015

My Lords, as these are technical changes we do nothing but endorse them and comment on the obvious fact that the Minister has not been in post overlong but has shown proper respect for the Delegated Powers and Regulatory Reform Committee and has moved with alacrity to enforce its request.

Amendment 17 agreed.

Amendment 18

Moved by Lord Bridges of Headley

18: Clause 19, page 16, line 10, at end insert—

“( ) In section 429(2B) (regulations subject to affirmative procedure) for “contain” substitute “contain—

(a) provision made under section 59AB(2) which modifies, excludes or applies with modifications any provision of primary legislation;

(b) ”.”

Amendment 18 agreed.

Clause 20: Administration of senior managers regime

Amendment 19

Moved by Lord Bridges of Headley

19: Clause 20, page 17, line 17, at end insert—

“( ) after subsection (4) insert—

“(4A) Before one regulator varies an approval which was last varied by the other regulator, it must consult the other regulator.””

Amendment 19 agreed.

Clause 22: Misconduct

Amendment 20

Moved by Lord Tunnicliffe

20: Clause 22, leave out Clause 22