Consumer Credit Bill

My Lords, I thank my noble friend Lord Borrie for his comments. We gave a great deal of thought to his intervention on this matter during the debate because he has so much experience in this area. Clause 42 covers the question of consultation on guidance. There is a specific requirement for the OFT to consult whomever it thinks necessary, and its record of doing so is very good. When we come to Amendment No. 3, we will debate whether it should be left to the OFT to do that or whether we want to see some political interference in the process. We think that the OFT is a very good body for doing that. We will, as always, urge the OFT to look far ahead in a thorough way with regard to systems and implementation. On Question, amendment agreed to.