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Clause 132

Part of Banking Bill – in a Public Bill Committee at 11:00 am on 18th November 2008.

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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 11:00 am, 18th November 2008

It would not be right to put a time scale on the face of the Bill, but clearly the policy intention is that a provisional administrator would keep things ticking over for a short period. I mentioned a few hours—it might be a few more hours than that, but it would not be a substantial length of time. The intention would be to move to a proper and full bank administration procedure as quickly as possible. Given that things can move extremely quickly, as we know, and that property and assets can be transferred quickly, once the decision has been made that a bank is failing its threshold conditions and action is being taken it is right that we do not leave a time window between a decision being taken and its being implemented.