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Clause 107

Banking Bill – in a Public Bill Committee at 2:15 pm on 13th November 2008.

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Notice to FSA of preliminary steps

Question proposed, That the clause stand part of the Bill.

Photo of Mark Hoban Mark Hoban Shadow Minister (Treasury)

I think I understand what subsection (9) is intended to do. It is intended to create a condition whereby the notice can prevent wrongful trading from taking place, but I do not think that it has the most elegant phrasing for that intention and I wonder whether the Minister might revisit that language to make it clearer.

Photo of Ian Pearson Ian Pearson Parliamentary Under-Secretary (Economic and Business), Department for Business, Enterprise & Regulatory Reform, Economic Secretary (Economic and Business), HM Treasury

I will undertake to investigate whether subsection (9) does what it is intended to do and does so in an elegant way. If it can be improved, I will undertake to do so.

Question put and agreed to.

Clause 107 ordered to stand part of the Bill.

Clause 108 ordered to stand part of the Bill.