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Amendments made: No. 23, in page 29, line 21, leave out ‘is wound up’ and insert ‘enters insolvency’.
No. 24, in page 29, line 23, leave out ‘been wound up’ and insert ‘entered insolvency’.
No. 25, in page 29, leave out lines 31 and 32 and insert—
‘(c) the reference to insolvency includes a reference to (i) liquidation, (ii) bank insolvency, (iii) administration, (iv) bank administration, (v) receivership, (vi) a composition with creditors, and (vii) a scheme of arrangement.’.
No. 26, in page 30, leave out lines 12 and 13.— [Mark Tami.]
Amendments made: No. 27, in page 30, line 32, leave out ‘a company’ and insert ‘anything’.
No. 28, in line 32, after ‘is’, insert
‘, or was immediately before the transfer,’.
No. 29, in page 30, line 38, at end insert ‘all or part of’.
No. 30, in page 30, line 42, after ‘business’, insert ‘, or part of it,’.— [Mark Tami.]
Amendment made: No. 31, in page 31, line 41, at end insert ‘, or part of it,’.— [Mark Tami.]
Amendments made: No. 32, in page 32, line 5, leave out ‘a company’ and insert ‘anything’.
No. 33, in page 32, line 7, at end insert
‘(whether or not it is also a group undertaking in relation to the transferred bank immediately after the transfer),’.
No. 34, in page 32, line 24, leave out ‘undertaking’ and insert ‘company’.
No. 35, in page 32, line 31, at end insert—
‘(8) The Bank of England may act under or by virtue of subsection (6) only with the consent of the Treasury.’.— [Mark Tami.]
Amendment made: No. 36, in page 33, line 6, leave out ‘transferee to operate the transferred business’ and insert ‘transferred bank to operate’.— [Mark Tami.]
Amendment made: No. 37, in page 33, line 40, at end insert—
‘(4) A reference in subsection (1) to obligations under a section includes a reference to obligations under that section as applied under section [Special resolution regime: Continuity obligations: onward property transfers] or [Special resolution regime: Continuity obligations: onward share transfers].’.— [Mark Tami.]
Amendment made: No. 38, in page 36, line 18, after ‘enactment’, insert
‘(other than a provision made by or under this Act)’.— [Mark Tami.]
Amendment made: No. 39, in page 63, line 33, at end insert—
‘(8) Section 413(2) of the Insolvency Act 1986 (rules: duty to consult Insolvency Rules Committee) shall not apply to the first set of rules which is made in reliance on this section.’.— [Mark Tami.]
Amendment made: No. 40, in page 83, line 41, at end insert—
‘(6) Section 413(2) of the Insolvency Act 1986 (rules: duty to consult Insolvency Rules Committee) shall not apply to the first set of rules which is made in reliance on this section.’.— [Mark Tami.]
Amendment proposed: No. 5, in page 86, line 7, leave out clause 164 .—[Mr. Hoban.]
Question put, That the amendment be made:—
The House divided: Ayes 133, Noes 296.
AYES
Afriyie, Adam
Amess, Mr. David
Ancram, rh Mr. Michael
Arbuthnot, rh Mr. James
Atkinson, Mr. Peter
Bacon, Mr. Richard
Baldry, Tony
Baron, Mr. John
Bellingham, Mr. Henry
Beresford, Sir Paul
Binley, Mr. Brian
Bone, Mr. Peter
Bottomley, Peter
Brady, Mr. Graham
Brazier, Mr. Julian
Brokenshire, James
Burns, Mr. Simon
Burt, Alistair
Burt, Lorely
Butterfill, Sir John
Carswell, Mr. Douglas
Cash, Mr. William
Chope, Mr. Christopher
Clappison, Mr. James
Cormack, Sir Patrick
Cox, Mr. Geoffrey
Davies, David T.C. (Monmouth)
Davies, Philip
Djanogly, Mr. Jonathan
Duncan, Alan
Ellwood, Mr. Tobias
Evennett, Mr. David
Fabricant, Michael
Field, Mr. Mark
Francois, Mr. Mark
Fraser, Christopher
Garnier, Mr. Edward
Gauke, Mr. David
Gibb, Mr. Nick
Gillan, Mrs. Cheryl
Goodwill, Mr. Robert
Gove, Michael
Gray, Mr. James
Grayling, Chris
Green, Damian
Gummer, rh Mr. John
Hammond, Mr. Philip
Hancock, Mr. Mike
Hands, Mr. Greg
Harper, Mr. Mark
Hayes, Mr. John
Heald, Mr. Oliver
Heathcoat-Amory, rh Mr. David
Hendry, Charles
Hoban, Mr. Mark
Holloway, Mr. Adam
Horam, Mr. John
Hunt, Mr. Jeremy
Jack, rh Mr. Michael
Jackson, Mr. Stewart
Jones, Mr. David
Kawczynski, Daniel
Key, Robert
Kirkbride, Miss Julie
Laing, Mrs. Eleanor
Lait, Mrs. Jacqui
Lancaster, Mr. Mark
Leigh, Mr. Edward
Letwin, rh Mr. Oliver
Lidington, Mr. David
Lilley, rh Mr. Peter
Loughton, Tim
Mackay, rh Mr. Andrew
Maclean, rh David
Main, Anne
Malins, Mr. Humfrey
Maples, Mr. John
Mates, rh Mr. Michael
May, rh Mrs. Theresa
McIntosh, Miss Anne
McLoughlin, rh Mr. Patrick
Mercer, Patrick
Miller, Mrs. Maria
Milton, Anne
Moss, Mr. Malcolm
Mundell, David
Murrison, Dr. Andrew
Neill, Robert
Newmark, Mr. Brooks
Paterson, Mr. Owen
Pelling, Mr. Andrew
Penrose, John
Pritchard, Mark
Randall, Mr. John
Rennie, Willie
Robathan, Mr. Andrew
Robertson, Hugh
Robertson, Mr. Laurence
Rosindell, Andrew
Ruffley, Mr. David
Scott, Mr. Lee
Selous, Andrew
Shapps, Grant
Simmonds, Mark
Simpson, Mr. Keith
Soames, Mr. Nicholas
Spicer, Sir Michael
Spink, Bob
Stanley, rh Sir John
Steen, Mr. Anthony
Stuart, Mr. Graham
Swayne, Mr. Desmond
Syms, Mr. Robert
Taylor, Mr. Ian
Timpson, Mr. Edward
Tredinnick, David
Turner, Mr. Andrew
Tyrie, Mr. Andrew
Vaizey, Mr. Edward
Villiers, Mrs. Theresa
Walker, Mr. Charles
Wallace, Mr. Ben
Whittingdale, Mr. John
Wiggin, Bill
Willetts, Mr. David
Wilshire, Mr. David
Wilson, Mr. Rob
Wilson, Sammy
Winterton, Ann
Winterton, Sir Nicholas
Wright, Jeremy
Yeo, Mr. Tim
Young, rh Sir George
Tellers for the Ayes:
Mr. Richard Benyon and
Mr. Crispin Blunt
NOES
Abbott, Ms Diane
Ainger, Nick
Alexander, Danny
Alexander, rh Mr. Douglas
Allen, Mr. Graham
Anderson, Mr. David
Anderson, Janet
Armstrong, rh Hilary
Atkins, Charlotte
Austin, Mr. Ian
Austin, John
Bailey, Mr. Adrian
Banks, Gordon
Barlow, Ms Celia
Barrett, John
Barron, rh Mr. Kevin
Battle, rh John
Bayley, Hugh
Beckett, rh Margaret
Begg, Miss Anne
Benn, rh Hilary
Betts, Mr. Clive
Blackman, Liz
Blackman-Woods, Dr. Roberta
Blizzard, Mr. Bob
Borrow, Mr. David S.
Bradshaw, Mr. Ben
Brake, Tom
Breed, Mr. Colin
Brooke, Annette
Brown, rh Mr. Nicholas
Brown, Mr. Russell
Browne, rh Des
Bryant, Chris
Buck, Ms Karen
Burden, Richard
Burgon, Colin
Burnham, rh Andy
Burstow, Mr. Paul
Burt, Lorely
Byrne, rh Mr. Liam
Caborn, rh Mr. Richard
Cairns, David
Carmichael, Mr. Alistair
Caton, Mr. Martin
Cawsey, Mr. Ian
Challen, Colin
Chapman, Ben
Chaytor, Mr. David
Clark, Ms Katy
Clarke, rh Mr. Charles
Clarke, rh Mr. Tom
Clelland, Mr. David
Clwyd, rh Ann
Coaker, Mr. Vernon
Coffey, Ann
Cohen, Harry
Connarty, Michael
Cooper, Rosie
Cooper, rh Yvette
Cousins, Jim
Crausby, Mr. David
Creagh, Mary
Cruddas, Jon
Cummings, John
Cunningham, Mr. Jim
Cunningham, Tony
David, Mr. Wayne
Davidson, Mr. Ian
Davies, Mr. Dai
Davies, Mr. Quentin
Dean, Mrs. Janet
Denham, rh Mr. John
Devine, Mr. Jim
Dhanda, Mr. Parmjit
Dobson, rh Frank
Dodds, Mr. Nigel
Donohoe, Mr. Brian H.
Doran, Mr. Frank
Dowd, Jim
Eagle, Angela
Eagle, Maria
Efford, Clive
Ellman, Mrs. Louise
Engel, Natascha
Ennis, Jeff
Farrelly, Paul
Fisher, Mark
Fitzpatrick, Jim
Flello, Mr. Robert
Follett, Barbara
Foster, Michael Jabez (Hastings and Rye)
Francis, Dr. Hywel
Gapes, Mike
Gardiner, Barry
George, rh Mr. Bruce
Gerrard, Mr. Neil
Gibson, Dr. Ian
Gidley, Sandra
Godsiff, Mr. Roger
Goggins, Paul
Goldsworthy, Julia
Goodman, Helen
Griffiths, Nigel
Grogan, Mr. John
Gwynne, Andrew
Hain, rh Mr. Peter
Hall, Mr. Mike
Hall, Patrick
Hamilton, Mr. David
Hanson, rh Mr. David
Harris, Dr. Evan
Harris, Mr. Tom
Harvey, Nick
Havard, Mr. Dai
Healey, rh John
Heath, Mr. David
Hendrick, Mr. Mark
Hepburn, Mr. Stephen
Heppell, Mr. John
Hesford, Stephen
Hewitt, rh Ms Patricia
Heyes, David
Hill, rh Keith
Hillier, Meg
Holmes, Paul
Hope, Phil
Hopkins, Kelvin
Horwood, Martin
Hosie, Stewart
Howarth, David
Hoyle, Mr. Lindsay
Hughes, rh Beverley
Humble, Mrs. Joan
Hunter, Mark
Hutton, rh Mr. John
Iddon, Dr. Brian
Ingram, rh Mr. Adam
Irranca-Davies, Huw
James, Mrs. Siân C.
Jenkins, Mr. Brian
Johnson, rh Alan
Johnson, Ms Diana R.
Jones, Helen
Jones, Mr. Kevan
Jones, Lynne
Jones, Mr. Martyn
Jowell, rh Tessa
Joyce, Mr. Eric
Keeley, Barbara
Keen, Alan
Keen, Ann
Keetch, Mr. Paul
Kemp, Mr. Fraser
Kidney, Mr. David
Kilfoyle, Mr. Peter
Knight, rh Jim
Ladyman, Dr. Stephen
Lammy, rh Mr. David
Laws, Mr. David
Laxton, Mr. Bob
Lazarowicz, Mark
Leech, Mr. John
Lepper, David
Levitt, Tom
Lewis, Mr. Ivan
Linton, Martin
Lloyd, Tony
Love, Mr. Andrew
MacShane, rh Mr. Denis
Malik, Mr. Shahid
Mallaber, Judy
Mann, John
Marris, Rob
Marsden, Mr. Gordon
Marshall-Andrews, Mr. Robert
Mason, John
McAvoy, rh Mr. Thomas
McCabe, Steve
McCarthy, Kerry
McCarthy-Fry, Sarah
McDonagh, Siobhain
McDonnell, John
McFadden, rh Mr. Pat
McFall, rh John
McGuire, rh Mrs. Anne
McIsaac, Shona
McKechin, Ann
McNulty, rh Mr. Tony
Meale, Mr. Alan
Merron, Gillian
Miliband, rh Edward
Miller, Andrew
Moffat, Anne
Mole, Chris
Moon, Mrs. Madeleine
Moran, Margaret
Morgan, Julie
Mudie, Mr. George
Mullin, Mr. Chris
Murphy, rh Mr. Jim
Naysmith, Dr. Doug
Norris, Dan
O'Brien, Mr. Mike
O'Hara, Mr. Edward
Olner, Mr. Bill
Osborne, Sandra
Owen, Albert
Palmer, Dr. Nick
Pearson, Ian
Plaskitt, Mr. James
Pope, Mr. Greg
Pound, Stephen
Prentice, Bridget
Prentice, Mr. Gordon
Price, Adam
Primarolo, rh Dawn
Prosser, Gwyn
Purchase, Mr. Ken
Purnell, rh James
Raynsford, rh Mr. Nick
Reed, Mr. Andy
Reed, Mr. Jamie
Reid, Mr. Alan
Reid, rh John
Rennie, Willie
Robertson, Angus
Robertson, John
Rowen, Paul
Roy, Mr. Frank
Roy, Lindsay
Ruane, Chris
Ruddock, Joan
Russell, Bob
Russell, Christine
Ryan, rh Joan
Salter, Martin
Sarwar, Mr. Mohammad
Sharma, Mr. Virendra
Shaw, Jonathan
Sheerman, Mr. Barry
Sheridan, Jim
Simon, Mr. Siôn
Simpson, Alan
Singh, Mr. Marsha
Skinner, Mr. Dennis
Smith, rh Mr. Andrew
Smith, Ms Angela C. (Sheffield, Hillsborough)
Smith, Angela E. (Basildon)
Snelgrove, Anne
Soulsby, Sir Peter
Southworth, Helen
Spellar, rh Mr. John
Starkey, Dr. Phyllis
Stoate, Dr. Howard
Strang, rh Dr. Gavin
Straw, rh Mr. Jack
Stuart, Ms Gisela
Stunell, Andrew
Tami, Mark
Taylor, David
Taylor, Matthew
Thomas, Mr. Gareth
Thornberry, Emily
Thurso, John
Timms, rh Mr. Stephen
Todd, Mr. Mark
Turner, Dr. Desmond
Twigg, Derek
Ussher, Kitty
Vis, Dr. Rudi
Walley, Joan
Waltho, Lynda
Ward, Claire
Watson, Mr. Tom
Watts, Mr. Dave
Weir, Mr. Mike
Whitehead, Dr. Alan
Wicks, rh Malcolm
Williams, rh Mr. Alan
Williams, Mark
Williams, Mr. Roger
Williams, Stephen
Willott, Jenny
Wills, rh Mr. Michael
Winnick, Mr. David
Winterton, rh Ms Rosie
Wood, Mike
Woodward, rh Mr. Shaun
Woolas, Mr. Phil
Wright, Mr. Anthony
Wright, David
Wright, Mr. Iain
Wright, Dr. Tony
Wyatt, Derek
Tellers for the Noes:
Ms Dawn Butler and
Ian Lucas
Question accordingly negatived.
Amendments made: No. 41, in page 87, line 13, leave out ‘contribute towards expenses connected’ and insert ‘to make payments in connection’.
No. 42, in line 16, leave out ‘contributions’ and insert ‘payments’.
No. 43, in line 21, leave out ‘contribute towards’ and insert ‘incur’.
No. 44, in line 23, after ‘incurred’, insert
‘in connection with the exercise of the stabilisation power’.
No. 45, in line 25, leave out ‘contributed’ and insert ‘paid’.
No. 46, in line 27, leave out ‘contributions’ and insert ‘payments’.
No. 47, in page 88, line 3, at end insert—
‘(5A) Payments required to be made by the scheme by virtue of section [Special resolution regime: compensation: Sources of compensation of the Banking Act 2008 (special resolution regime: compensation) shall be treated for the purposes of subsection (4) as if required to be made under this section.
(5B) The regulations may include provision for payments (including payments under those provisions of the Banking Act 2008) to be made—
(a) before verification in accordance with subsection (3)(b), and
(b) before the calculation of the limit imposed by subsection (4), by reference to estimates of that limit and subject to any necessary later adjustment.’.
No. 48, in page 88, line 11, leave out ‘contributions’ and insert ‘payments’.— [Mark Tami.]
Amendment made: No. 49, in page 95, line 19, at end insert—
‘(2) Before taking action under this Part in respect of a recognised inter-bank payment system the operator of which satisfies section 180(2), the Bank of England must consult the FSA.
(3) If the FSA gives the Bank of England notice that the FSA is considering taking action in respect of the operator of a recognised inter-bank payment system who satisfies section 180(2), the Bank may not take action under this Part in respect of the operator unless—
(b) the notice is withdrawn.’.— [Mark Tami.]
Amendment made: No. 50, in page 96, line 17, at end insert—
‘(8) In the application of this section to Scotland—
(a) the reference to a justice of the peace includes a reference to a sheriff, and
(9) In the application of this section to Northern Ireland—
(a) the reference to a justice of the peace is a reference to a lay magistrate, and
(b) the reference to sections 15(5) to (8) and 16 of the Police and Criminal Evidence Act 1984 is a reference to the equivalent provisions of the Police and Criminal Evidence (Northern Ireland) Order 1989.’.— [Mark Tami.]
Amendment made: No. 51, in page 96, line 42, at end insert—
‘(2) The Bank may publish details of a sanction imposed under sections 192 to 194.’.— [Mark Tami.]
Amendment made: No. 52, in page 97, leave out line 9 and insert—
‘(a) threatens the stability of, or confidence in, the UK financial system, or
(b) has serious consequences for business or other interests throughout the United Kingdom.’.— [Mark Tami.]
Amendments made: No. 53, in page 98, line 2, at end insert ‘or on another person’.
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