Regulatory Enforcement and Sanctions Bill [HL]

I am very grateful to my noble friend. On a point of clarification, my amendment would not exclude the five regulators completely from this section; it would exclude them from the involvement of a Minister of the Crown giving instructions or directions. That is because when the Government have financed an investment subject to a regulatory decision—nothing to do with competition—it could be seen to be compromising the independence of the regulator if the Government are not satisfied and use the imposition of the duty as a threat. That is the reason: I am not looking to have them removed completely, only to remove the government involvement in Clause 69.