Bank of England and Financial Services Bill [Lords]

– in a Public Bill Committee at 12:00 am on 9 February 2016.

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[Phil Wilson in the Chair]

Before we begin, I have a few preliminary points. Please switch electronic devices to silent. Tea and coffee are not allowed during sittings. Members may, if they wish, remove their jackets during Committee meetings. Today, we will first consider the programme motion on the amendment paper. We will then consider a motion to enable the reporting of written evidence for publication. In view of the time available, I hope we can take those matters formally, without debate.

Ordered,

That—

(1) the Committee shall (in addition to its first meeting at 9.25 am on Tuesday 9 February) meet—

(a) at 2.00 pm on Tuesday 9 February;

(b) at 11.30 am and 2.00 pm on Thursday 11 February;

(c) at 9.25 am and 2.00 pm on Tuesday 23 February;

(2) the proceedings shall be taken in the following order: Clauses 1 to 13; Schedule 1; Clauses 14 to 16; Schedule 2; Clause 17; Schedule 3; Clauses 18 to 20; Schedule 4; Clauses 21 to 38; new Clauses; new Schedules; remaining proceedings on the Bill;

(3) the proceedings shall (so far as not previously concluded) be brought to a conclusion at 5.00 pm on Tuesday 23 February.—

Resolved,

That, subject to the discretion of the Chair, any written evidence received by the Committee shall be reported to the House for publication.—(Harriett Baldwin.)

Copies of any written evidence that the Committee receives will be sent to Members and made available in the Committee room and online.

We will now begin line-by-line consideration of the Bill. The selection list for today’s sitting is available in the room. It shows how the selected amendments have been grouped together for debate. Amendments grouped together are generally on the same or similar issues. A Member who has put their name to the leading amendment in a group is called first. Other Members are then free to catch my eye to speak on all or any of the amendments within that group. A Member may speak more than once in a single debate.

Please note that decisions on amendments take place not in the order in which they are debated, but the order in which they appear on the amendment paper. In other words, debate occurs according to the selection and grouping list, and decisions are taken when we come to the clause that the amendment affects. I hope that that explanation is helpful. I will use my discretion to decide whether to allow a separate stand part debate on individual clauses and schedules following the debates on the relevant amendments.

Clause 1