Compensation Bill [HL]

I am grateful to the noble Viscount. I understand that there is an arm’s length relationship between the FSA and the Treasury, but there is a relationship. If the FSA were designated in this way, we would look at the Bill to ensure that it fitted with what needs to happen. In our design of the Bill, we believe that most of the cases we have in mind would be covered without having to amend it. But of course if amendment were needed we would make it. I think that addresses the noble Viscount’s point.