Results 1–20 of 133 for speaker:Lord Fraser of Carmyllie

Address in Reply to Her Majesty's Most Gracious Speech (23 Nov 1999)

Lord Fraser of Carmyllie: My Lords, the noble and learned Lord, Lord Millett, is the second distinguished lawyer to make a maiden speech today. As a fellow bencher at Lincoln's Inn, it is a particular privilege to have the opportunity to follow the noble and learned Lord and to congratulate him on his speech. After a very distinguished career at the Bar, he is now a Lord of Appeal in Ordinary. The noble Lord, Lord...

Address in Reply to Her Majesty's Most Gracious Speech (23 Nov 1999)

Lord Fraser of Carmyllie: My Lords, the noble Lord may say that, but it is the first time that a split infinitive has appeared and I am happy, if nothing else, to record that change in our modernised Britain. The more dismaying and perplexing paradox is what is said in the gracious Speech about regulation. The Government indicate their drive against inappropriate and overly complex regulation. However, if the...

Address in Reply to Her Majesty's Most Gracious Speech (23 Nov 1999)

Lord Fraser of Carmyllie: My Lords, the Minister took the time to intervene in the limited time I had to speak. I ask him to respond to the specific point I put to him. There is a reference in the gracious Speech to what the Government propose to do with regard to regulation. I put a specific point to him about what I understood lay behind the proposal. The noble Lord has now had about four hours to discover whether...

Address in Reply to Her Majesty's Most Gracious Speech (23 Nov 1999)

Lord Fraser of Carmyllie: My Lords, I seek to discover from the Minister the Government's policy on the matter. At this point he is being extraordinarily evasive about it. If the noble Lord wishes to say that he will pursue further what we intended, let him say so. Alternatively, if there is some further extension will he please explain what is meant by the expression to be found in the gracious Speech?

Representation of the People Bill (15 Feb 2000)

Lord Fraser of Carmyllie: My noble friend Lord Mackay has dealt with this proposal in a particularly even-tempered fashion. To that extent, I think he is wrong. If he reflects on his own political involvement, he will know that, however composed people may be during a general election campaign, when it comes to polling day, emotions tend to be somewhat aroused. Over the past 20 years, I have been engaged in many...

Financial Services and Markets Bill (21 Feb 2000)

Lord Fraser of Carmyllie: My Lords, like other noble Lords I have registered interests to declare. I am a director of the recognised investment exchanges, the London Metal Exchange and the International Petroleum Exchange. For the purposes of the Bill it is of greatest interest to me that I had the privilege to serve under the noble Lord, Lord Burns, on the Joint Committee. It was an extremely worthwhile and...

Written Answers — House of Lords: Bute House, Edinburgh (15 Mar 2000)

Lord Fraser of Carmyllie: asked Her Majesty's Government: Whether it is considered necessary or desirable to seek variation of the terms of the Trust for Bute House, Charlotte Square, Edinburgh, now that it is being used exclusively as the residence for the First Minister of the Scottish Parliament.

Financial Services and Markets Bill (16 Mar 2000)

Lord Fraser of Carmyllie: Like other noble Lords, I was somewhat taken aback by the black-and-white terms in which the noble Lord, Lord Eatwell, addressed this difficult issue. It certainly does not reflect either the evidence or the debates that we had in the Joint Committee under the noble Lord, Lord Burns, either in public or in private. I believe that this is a difficult issue and one that needs to be understood...

Financial Services and Markets Bill (16 Mar 2000)

Lord Fraser of Carmyllie: I did not suggest that it did or, indeed, that it should. I am trying to ascertain from the Minister, now or at some future point, whether there will be an expectation on RIEs that they should in future have that separation. It would seem anomalous if, as the noble Lord is advancing, there should be only one chairman for the FSA.

Financial Services and Markets Bill (16 Mar 2000)

Lord Fraser of Carmyllie: The noble Lord, Lord Eatwell, indicated that he was much chastened by some earlier remarks. I hope that it does not upset him more if I say how much I agree with him on the amendment. I am sure that the noble Lord is right. That is not just because I agreed with him in the Joint Committee; we should have some indication of the importance of dealing with systemic risk on the face of the Bill....

Financial Services and Markets Bill (16 Mar 2000)

Lord Fraser of Carmyllie: I wish to tell the noble Lord, Lord Borrie, that it seems to me that the point in question has been picked up and that Amendment No. 14 is correct. I am at a loss to understand how the authority can secure that a majority of the members are non-executive. What happens if the Treasury fails to appoint a sufficient number of non-executive members, or if it decides to dismiss some of those...

Financial Services and Markets Bill (16 Mar 2000)

Lord Fraser of Carmyllie: I am grateful to the Minister. I noticed that he did not reach Amendment No. 24, which concerns the word "but". I was going to say to the Minister that it would not be the most radical act of revision in your Lordships' House were that "but" to be deleted, but it seems a quite redundant word in that context. Its excision would have a marginal effect in reducing the length of the Bill.

Financial Services and Markets Bill (16 Mar 2000)

Lord Fraser of Carmyllie: At this stage, I do not think that it is necessary for me to elaborate on any of the arguments that have been advanced by the noble Lord, Lord Grabiner, the noble and learned Lord, Lord Donaldson, or my noble friend Lord Bagri. The line I should like to suggest to the Government--here I hope that I am kicking at an open door--is this. As I understand the scheme of the Bill, the "super...

Financial Services and Markets Bill (16 Mar 2000)

Lord Fraser of Carmyllie: The noble Lord, Lord Borrie, has advanced what I would describe as a "reckless" argument. When we discussed the matter in the Joint Committee, I attempted--I must admit that I failed--to persuade the other members that the issue of the international competitiveness of the United Kingdom, rather than simply of the City of London--I stress that to my noble friend--should be included among the...

Financial Services and Markets Bill (16 Mar 2000)

Lord Fraser of Carmyllie: I think that we are getting into a Clause 28 argument. The amendment reads: "which does not unnecessarily impair the competitive position of the United Kingdom". There is a distinction to be drawn.

Financial Services and Markets Bill (16 Mar 2000)

Lord Fraser of Carmyllie: Perhaps I may briefly make my final point. I wish the Minister would recognise the enormity of the concession I was making. Both the noble Lord, Lord Eatwell, and the noble Lord, Lord Burns, know how vehemently I argued for the international competitiveness of the United Kingdom to be placed fairly and squarely among the objectives and not to be relegated to subsection (3). What I did not...

Financial Services and Markets Bill (20 Mar 2000)

Lord Fraser of Carmyllie: Before the noble Baroness decides whether or not to withdraw the amendment, I wish to ask the Minister a question. He has advanced a clear and coherent argument as to why this measure should not be imposed on a financial services regulator. At the present time the Utilities Bill is progressing through another place. I understand that the Government intend to impose certain social and ethical...

Gold Auctions (21 Mar 2000)

Lord Fraser of Carmyllie: asked Her Majesty's Government: Whether the outcome to date of their auction of United Kingdom gold reserves is satisfactory.

Gold Auctions (21 Mar 2000)

Lord Fraser of Carmyllie: My Lords, I am grateful to the Minister for his reply. In rejecting the unequivocal advice of the Governor of the Bank of England that those bullion sales should not take place, was it not the declared intention of the Government that those decisions should make the poor people of the world richer? Can the Minister say whether those poor people of the world have been made richer or poorer as...

Financial Services and Markets Bill (21 Mar 2000)

Lord Fraser of Carmyllie: I may have missed something that the Minister said; if so, I apologise. In regard to the penalties to be imposed under Schedule 1, the language in the new clause exactly reflects that. Is there some reason why that has been put in as a new clause and the other remains in a schedule? Is this just a quirk of the drafting?


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