Financial Services and Markets Bill

– in a Public Bill Committee at on 19 October 2022.

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[Mr Virendra Sharma in the Chair]

Photo of Virendra Sharma Virendra Sharma Labour, Ealing, Southall 9:25, 19 October 2022

I have a couple of preliminary announcements to make. Hansard colleagues will be grateful if Members could email their speaking notes to hansardnotes@parliament.uk. Please switch electronic devices to silent. Tea and coffee are not allowed during sittings.

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 and a motion to allow us to deliberate in private about our questions before the oral evidence session. In view of the time available, I hope that 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 Wednesday 19 October) meet—

(a) at 2.00 pm on Wednesday 19 October;

(b) at 9.25 am and 2.00 pm on Tuesday 25 October;

(c) at 11.30 am and 2.00 pm on Thursday 27 October;

(d) at 9.25 am and 2.00 pm on Tuesday 1 November;

(e) at 11.30 am and 2.00 pm on Thursday 3 November;

2. the Committee shall hear oral evidence in accordance with the following Table:

Date

Time

Witness

Wednesday 19 October

Until no later than 10.10 am

Prudential Regulation Authority Financial Conduct Authority

Wednesday 19 October

Until no later than10.40 am

TheCityUK UK Finance

Wednesday 19 October

Until no later than 10.55 am

Payment Systems Regulator

Wednesday 19 October

Until no later than 11.25 am

Association of British Insurers Investment Association

Wednesday 19 October

Until no later than 2.25 pm

The Bank of England

Wednesday 19 October

Until no later than 2.45 pm

Which?

Wednesday 19 October

Until no later than 3.10 pm

Access to Cash Group Fair by Design

Wednesday 19 October

Until no later than 3.10 pm

New Financial

Wednesday 19 October

Until no later than 3.55 pm

Association of British Credit Unions Ltd. Building Societies Association

Wednesday 19 October

Until no later than 4.10 pm

CIFAS

Wednesday 19 October

Until no later than 4.25 pm

Innovate Finance

Wednesday 19 October

Until no later than 4.40pm

Mr Martin Taylor

3. proceedings on consideration of the Bill in Committee shall be taken in the following order: Clause 1; Schedule 1; Clauses 3 to 7; Clause 2; Schedule 2; Clause 8; Schedule 3; Clauses 9 to 13; Schedule 4; Clauses 14 to 20; Schedule 5; Clause 21; Schedule 6; Clauses 22 to 46; Schedule 7; Clause 47; Schedule 8; Clause 48; Schedule 9; Clause 49; Schedule 10; Clause 50; Schedule 11; Clause 51; Schedules 12 and 13; Clauses 52 to 63; Schedule 14; Clauses 64 to 73; new Clauses; new Schedules; remaining proceedings on the Bill;

4. the proceedings shall (so far as not previously concluded) be brought to a conclusion at 5.00 pm on Thursday 3 November.—

Resolved,

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

Resolved,

That, at this and any subsequent meeting at which oral evidence is to be heard, the Committee shall sit in private until the witnesses are admitted.—(Andrew Griffith.)

Photo of Virendra Sharma Virendra Sharma Labour, Ealing, Southall

Copies of written evidence that the Committee receives will be made available in the Committee Room and circulated to Members by email. We will now go into private session to discuss lines of questioning.

The Committee deliberated in private.

amendment

As a bill passes through Parliament, MPs and peers may suggest amendments - or changes - which they believe will improve the quality of the legislation.

Many hundreds of amendments are proposed by members to major bills as they pass through committee stage, report stage and third reading in both Houses of Parliament.

In the end only a handful of amendments will be incorporated into any bill.

The Speaker - or the chairman in the case of standing committees - has the power to select which amendments should be debated.

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.