The provisions have come under consultation with the regulated sector. We are trying to find a way to show that we are listening to that sector's concerns, but we are working in a new area. It is clear from the amendments that the Conservatives feel the threshold is too low. That is one of the reasons why we have left a great deal of flexibility in the Bill for individual arrangements to be made between NCIS and the institutions to vary the amounts on a case-by-case basis. At this stage, we feel that to set a general threshold above £100 would be too high; we are concerned that that could allow for substantial evasion of the principal money laundering offences in sections 327 and 329 of the Proceeds of Crime Act.

As I have said, we believe that the current proposals in Clause 95 are flexible. They allow the Secretary of State to vary the £100 threshold amount by order, if experience proves that that might be necessary. We keep such issues under constant review, through the taskforce, through representations from those who assist us in this work and through listening to those involved in law enforcement. [Interruption.]

I have just been told that I might be speaking to the wrong part of the Bill. We are debating clause 94 stand part, I apologise. I was doing so well. [Laughter.]

I am back. I was jumping ahead. As I said before, we are trying to create a sensible procedure that ensures that Britain sets an example and encourages other countries to do so too. We have shown, through this clause, that we have been listening to the concerns of industry. I hope that, despite everything that the hon. Member for Huntingdon says, we can agree clause 94. I apologise for the misunderstanding.

Question put and agreed to.

Clause 94 ordered to stand part of the Bill.