Banking Bill

With this it will be convenient to discuss the following: new clause 4—Exemption of bank directors from liability— ‘(1) The Treasury may by order exempt directors of a bank for which the stabilisation powers have been exercised, or of any group undertaking of any such bank, from liability in connection with acts and omissions in relation to the bank or undertaking. (2) Any such order— (a) shall be made by statutory instrument, and (b) may not be made unless a draft has been laid before and approved by resolution of each House of Parliament.’. New clause 5— Protection of bank customers — ‘(1) The Treasury may by order amend Part 16 of the Financial Services and Markets Act 2000 for the purposes of protecting the position of customers of a bank for which the stabilisation powers have been exercised. (2) Any such order— (a) shall be made by statutory instrument, and (b) may not be made unless a draft has been laid before and approved by resolution of each House of Parliament.’. Amendment No. 3, page 36, line 5, leave out Clause 72. Government amendment No. 38 Amendment No. 1, in clause 72, page 36, line 42, at end insert— ‘(9) No order under this section may amend this Act.’. Amendment No. 2, page 36, line 42, at end insert— ‘(9) This section shall cease to have effect at the end of the period of two years beginning with the day on which this Act is passed.’.