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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 David Gauke David Gauke Shadow Minister (Treasury) 11:00 am, 18th November 2008

I am grateful for the Minister’s response and I understand why he does not want to be prescriptive, certainly on the face of the Bill, or to say much more than he already has about the length of time. As he said, objective 2 is disapplied, but will he assure the Committee that even though objective 2 does not apply—that is, the rescue of the residual bank as a going concern to achieve a better result for the residual bank’s creditors as a whole than if it was wound up without bank administration—the provisional administrator will do nothing to prejudice the objective 2 requirements?