Financial Services (Banking Reform) Bill Commons committee stage - written evidence
The Society considers that the bill is being passed through parliament too quickly and that the basis for granting the Treasury significant powers has not been fully discussed, and no convincing argument has been made for the need for such sweeping powers.
This evidence discusses the following issues:
- the ring-fencing proposals
- depositor preference
- the powers the bill gives to the Treasury to amend the legislation, and
- an example of the sort of problems that specimen secondary legislation reveal.