Financial Services Bill

I share the view that it is important that there is the discipline and predictability of a deadline in the production of minutes after a council meeting, as the noble Baroness indicated. Clause 2(4) sets out that the statement of the council should make provision for procedure. In keeping with that concept of procedure, the draft terms of reference, which are available on the Treasury website, stipulate that a final minute is to be published no later than one month after the meeting. The noble Baroness proposes to halve that time so that a final minute should be published within 14 days. If the amendment were accepted, that would be a statutory requirement. To produce minutes in such a short time seems a little dramatic. It is unnecessarily short given that it is appropriate for the minute to be agreed by the parties as a fair record. There is a bit of work to be done. Surely the predictability of the release is most important, not how rapidly it appears. We consider one month a fair and reasonable time. We hope the noble Baroness will therefore withdraw her amendment.