Building Societies (Insolvency and Special Administration) (Amendment) Order 2010, Building Societies (Financial Assistance) Order 2010

I am very happy to confirm the Government’s absolute commitment to the concept of mutuality, a form of ownership which has served its members well and has been free from much of the scandal and mischief that we have associated with the plc model in the financial services sector. The proposals in the orders are designed to ensure that the sector remains resilient and that we have available to us a wide range of resolution instruments should they ever be required. Motions agreed.