Banking (Special Provisions) Bill — Impact on ccompetition — 21 Feb 2008 at 15:20
The majority (in the House of Lords) voted to add a new section into the Banking (Special Provisions) Bill[1] which said:
Where an authorised deposit taker is subject to an order made under section 3, or where the property, rights and liabilities of an authorised UK deposit taker have been transferred to a body corporate under section 6, the Office of Fair Trading shall-
(a) lay before Parliament annually a report on the impact of the competitiveness of the market in the UK of the activities of the authorised deposit-taker or of the body corporate to which property rights and liabilities have been transferred (as the case may be); and
(b) report to Parliament as soon as it identifies a significant adverse effect on the competitiveness of the market in the United Kingdom as a result of the activities of the authorised deposit-taker or of the body corporate to which property rights and liabilities have been transferred (as the case may be).[2]
- [1] Banking (Special Provisions) Bill, House of Lords version.
- [2] Lord de Mauley, House of Lords, 21 February 2008.
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