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Clause 42

Part of Banking Bill – in a Public Bill Committee at 5:00 pm on 11th November 2008.

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Photo of Mark Todd Mark Todd Labour, South Derbyshire 5:00 pm, 11th November 2008

The balance between the discretion required to exercise the power and the certainty required by someone trading with a bank when trying to reach a long-term commitment is a delicate one.

I have been slightly puzzled by the application in this legislation of the word “may” to the protections to which the Minister has referred. It implies a discretion that allows the Government not to exercise the powers granted to it to protect the various interests to which he refers. Will he clarify the use of that term, because it puzzles me that there does not seem to be an obligation involved to protect the interests he has stated?