Clause 63 - Interpretation of Part 4

Financial Services Bill – in a Public Bill Committee at 10:45 pm on 20th March 2012.

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

Photo of Chris Leslie Chris Leslie Shadow Minister (Treasury)

This is a fairly straightforward clause, which simply talks about the interpretation of some of the measures in part 4. As the Committee knows, the Opposition have significant concerns about part 4, because we do not believe that the provisions for collaboration between the Treasury, the Bank, the FCA and the PRA have been framed in the right way. The clause simply defines terms such as “public funds notification” and “financial assistance”, however, so it is difficult to object to it.

Question put and agreed to.

Clause 63 accordingly ordered to stand part of the Bill.