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Clause 32

Part of Banking Bill – in a Public Bill Committee at 11:15 am on 11th November 2008.

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Photo of David Gauke David Gauke Shadow Minister (Treasury) 11:15 am, 11th November 2008

I am grateful for the Minister’s response. As I said in my opening remarks on the amendment, my intention was to flush out exactly what the Government had in mind when they referred to EU legislation. I was not expecting milk quotas. The provision would appear, from what the Minister has said, to be largely precautionary and I have no objection to it other than that it seems vague. The Minister did not refer to passporting rights—I anticipated that they would be considered rights under an enactment, including EU legislation. I do not know whether passporting rights would fall under the provision. Although we did not receive the expected clarification, the Minister’s remarks were helpful. The wording does no particular harm, and I beg to ask leave to withdraw the amendment.