Financial Services Bill

28: After Clause 4, insert the following new Clause— "Disclosure of financial assistance to the Bank of England (1) Where the Treasury provides financial assistance to the Bank of England in order to facilitate actions by the Bank of England in pursuit of its financial stability objective under section 2A of the Bank of England Act 1998, the Treasury shall lay a report setting out details of the financial assistance before Parliament. (2) A report under subsection (1) shall be laid as soon as possible after the provision of the financial assistance but may be delayed for as long as the Treasury considers that there would be a threat to the stability of the UK financial system if such a report were laid. (3) Where the laying of a report is delayed, the Chancellor of the Exchequer shall ensure that information is given on a confidential basis to those Members of Parliament whom he considers should be informed. (4) "Financial assistance" includes giving guarantees or indemnities and any other kind of financial assistance (actual or contingent)." Amendment 28 agreed. Amendment 29 Moved by