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New Clause 3

Banking Bill – in a Public Bill Committee at 11:30 am on 18th November 2008.

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“Financial institution”

‘(1) The Treasury may by order provide that a specified institution, or an institution of a specified class, is or is not to be treated as a financial institution for the purposes of section 214 or 215.

(2) An order—

(a) shall be made by statutory instrument, and

(b) shall be subject to annulment in pursuance of a resolution of either House of Parliament.’.—[Ian Pearson.]

Brought up, read the First and Second time, and added to the Bill.