Lord Moylan:

Tabled by Lord Moylan

69: Clause 123, page 135, line 32, at end insert—“(2A) Section 36 comes into force at the end of the period of two months after the “applicable deferment rate(s)” and “applicable capitalisation rate(s)” defined in Schedule 4 have been prescribed in accordance with regulations made under that Schedule.”Member's explanatory statementThis amendment delays the entering into force of Clause 36 until two months after the applicable deferment rate(s) and applicable capitalisation rate(s) have been prescribed in regulations.

My Lords, I think it was Bismarck who said that the public should never see how laws or sausages are made.

Amendment 69 not moved.