Commons Bill [HL]

Surely the somebody would be the bank manager who had lent money on the basis of no security. When there is no security on a project, which bank would lend money to members of an association who are not liable to pay it? I remind noble Lords that the kind of issue to which I referred was one whereby a bequest could be left in a will to an association which, for very good reasons, might wish to dispose of an asset it had acquired in order to do something else with the money. This was what we had in mind, not raising lots of money from people in the open market. In the whole of my life, I cannot remember meeting a bank manager who would lend money to a group of people who had no means of repaying and no liability to repay if they did not do so. I think that my noble friend is worrying about this unnecessarily.