Banking Bill

With this it will be convenient to discuss the following: new clause 6— Contingency funding: power to make regulations ‘After section 214A of the Financial Services and Markets Act 2000 (Contingency funding - inserted by section 164 above) insert— ““214AA Contingency funding: power to make regulations The Treasury may make regulations under section 214A only after it has laid before Parliament a report on the impact of a pre-funded scheme on the classes of person from whom contributions can be levied and whether contingency funding is the best way to achieve the special resolution regime objective set out in section 4 of the Banking Act 2008.””’. Government amendments Nos. 23 to 26. Amendment No. 5, in page 86, line 7, leave out clause 164. Amendment No. 17, in clause 164, page 86, line 24, at end insert— ‘(da) arrangements for institutions that have permission under part 4 of the Financial Services and Markets Act 2000 to carry out the regulated activity of accepting deposits (within the meaning of section 22 of the Act, taken with Schedule 2 and by order under section 22) but are not incorporated in, or formed under the law of, any part of the United Kingdom;’. Amendment No. 13, in clause 165, in page 87, line 12, after ‘(2)’, insert ‘Subject to subsection (2A),’. Government amendments Nos. 41 and 42.