New Clause 6 - Remuneration consultants

Part of Financial Services (Banking Reform) Bill – in a Public Bill Committee at on 16 April 2013.

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‘The Secretary of State will by regulations provide for a requirement that the remuneration consultants advising on remuneration policy shall be appointed by the shareholders of a relevant financial institution.’.—(Cathy Jamieson.)

Clause

A parliamentary bill is divided into sections called clauses.

Printed in the margin next to each clause is a brief explanatory `side-note' giving details of what the effect of the clause will be.

During the committee stage of a bill, MPs examine these clauses in detail and may introduce new clauses of their own or table amendments to the existing clauses.

When a bill becomes an Act of Parliament, clauses become known as sections.

Secretary of State

Secretary of State was originally the title given to the two officials who conducted the Royal Correspondence under Elizabeth I. Now it is the title held by some of the more important Government Ministers, for example the Secretary of State for Foreign Affairs.