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Financial Services (Banking Reform) Bill

Treasury written statement – made at on 7 March 2013.

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Photo of Greg Clark Greg Clark The Financial Secretary to the Treasury

I have today deposited in the Libraries of both Houses drafts of the following secondary legislation to be made under the Financial Services (Banking Reform) Bill:

The draft Financial Services and Markets Act 2000 (Ring-fenced Bodies and Core Activities) Order;

The draft Financial Services and Markets Act 2000 (Excluded Activities and Prohibitions) Order;

The draft Financial Services and Markets Act 2000 (Fees and Prescribed International Organisations) Order.

These illustrative drafts are for the benefit of Members in advance of the Second Reading of the Bill. The Government will formally publish a draft of all secondary legislation for public consultation later in the year.

Second Reading

The Second Reading is the most important stage for a Bill. It is when the main purpose of a Bill is discussed and voted on. If the Bill passes it moves on to the Committee Stage. Further information can be obtained from factsheet L1 on the UK Parliament website.