Official Listing of Securities, Prospectus and Transparency (Amendment etc.) (EU Exit) Regulations 2019 - Motion to Approve

Part of the debate – in the House of Lords at 8:00 pm on 18th February 2019.

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Photo of Lord Adonis Lord Adonis Labour 8:00 pm, 18th February 2019

My Lords, the noble Lord said that I should be precise and accurate. My amendment to the Motion says that,

“this House regrets that no consultation was undertaken on this instrument”.

Paragraph 10.1 of the Explanatory Memorandum in respect of these regulations says:

HM Treasury has not undertaken a consultation on the instrument”.

Those are the exact words, so I cannot understand at all the point that the noble Lord is making. He is trying to excuse the fact that there has not been a consultation by saying that there has been a lesser form of engagement. However, that engagement is not a substitute for formal public consultation. Is he suggesting that it is an adequate substitute?