UK Parliament / Open data

Compensation (London Capital & Finance plc and Fraud Compensation Fund) Bill

Debate on bills on Wednesday, 22 September 2021, in the House of Commons, led by Guy Opperman. The answering member was Pat McFadden.
Programme (No. 2) motion amending the Order of 8 June. Report stage. Clause 1, amendment 1 negatived on division (52 to 292). Third reading. Agreed to on question. Bill passed.
Type
Parliamentary proceeding
Reference
701 cc313-335 
Session
2021-22
Department
Treasury
Legislative stage
Third reading and Report stage
Procedure
Programme motions
Chamber / Committee
House of Commons chamber
Compensation (London Capital and Finance plc and Fraud Compensation Fund) Bill 2021-22
Wednesday, 12 May 2021
Bills
House of Commons
Compensation (London Capital & Finance plc and Fraud Compensation Fund) Bill
Tuesday, 8 June 2021
Parliamentary proceedings
House of Commons
Proceeding contributions
Peter Grant | 701 cc313-4 (Link to this contribution)

I beg to move amendment 1, page 1, line 18, at end insert—

“(5) Within six months of this A...

Kevin Hollinrake | 701 c314 (Link to this contribution)

The hon. Gentleman is making some good points and has been very vocal in this Chamber to draw att...


Show all contributions (41)
Peter Grant | 701 c315 (Link to this contribution)

It may well have been achieved by the Government’s response to the report, but the Gloster report...

Gareth Thomas | 701 c315 (Link to this contribution)

I want to take the hon. Gentleman back to the point made by the hon. Member for Thirsk and Malton...

Peter Grant | 701 cc315-7 (Link to this contribution)

The hon. Gentleman makes a valid point, which is well worth consideration. I do not want to go in...

Rehman Chishti | 701 c316 (Link to this contribution)

On the allocation of compensation to different individuals, all victims are victims of this scam,...

Peter Grant | 701 c316 (Link to this contribution)

We have to remember that we are dealing with a large number of people. It is not just one company...

Kevin Hollinrake | 701 cc316-8 (Link to this contribution)

It is a pleasure to have the opportunity to debate these issues. The amendment tabled by the hon....

Sammy Wilson | 701 c318 (Link to this contribution)

I accept the point that the hon. Gentleman is making, but does he also accept that many small inv...

Kevin Hollinrake | 701 c318 (Link to this contribution)

Anybody reading the report will be appalled by the regulator’s performance in this case, given no...

Rehman Chishti | 701 c318 (Link to this contribution)

My hon. Friend says that he welcomes the compensation that is being made. Of course, so do I and ...

Kevin Hollinrake | 701 c319 (Link to this contribution)

I could not agree more. The UK has a pretty poor record in terms of bringing forward fraud prosec...

Rehman Chishti | 701 c319 (Link to this contribution)

I am very happy to support my hon. Friend’s campaign to ensure that justice is done in this case....

Kevin Hollinrake | 701 c319 (Link to this contribution)

That is very welcome.

The key point in the amendment is about oversight. I am concerned tha...

Gareth Thomas | 701 cc319-320 (Link to this contribution)

I am sympathetic to the broad thrust of the amendment tabled by the hon. Member for Glenrothes (P...

Rehman Chishti | 701 c320 (Link to this contribution)

I really appreciate all the work that the hon. Gentleman has done on this matter. On the consumer...

Gareth Thomas | 701 cc320-1 (Link to this contribution)

The hon. Member invests an awful lot of confidence in me to predict what might happen, but I can ...

Rehman Chishti | 701 c321 (Link to this contribution)

The hon. Gentleman’s idea of an independent committee should be considered among the wider tools ...

Gareth Thomas | 701 c321 (Link to this contribution)

I am not sure I need to respond other than to thank the hon. Member for his intervention.

Kevin Hollinrake | 701 c321 (Link to this contribution)

I am sure that many other people in the House often get frustrated, as I do, at unaccountable ind...

Gareth Thomas | 701 cc321-2 (Link to this contribution)

The hon. Member may be right. I simply put out the idea at this stage, and I hope Ministers will ...

Pat McFadden | 701 cc322-3 (Link to this contribution)

I want to use the opportunity provided by the amendment to raise a few points, particularly about...

Rehman Chishti | 701 c323 (Link to this contribution)

I thank the shadow Minister for giving way, and I will of course raise the same point with the Mi...

Pat McFadden | 701 c323 (Link to this contribution)

The hon. Member raises a very fair point. It has already been referenced in the debate that this ...

Sammy Wilson | 701 c323 (Link to this contribution)

I understand the point, but does the right hon. Gentleman accept that defining those who have suf...

Pat McFadden | 701 cc323-4 (Link to this contribution)

The right hon. Member raises a very fair point. If we pluck a sum of money out of the air, it cou...

Peter Grant | 701 c324 (Link to this contribution)

There is clearly a need to specify which kinds of investment losses might be compensated, and whi...

Pat McFadden | 701 c324 (Link to this contribution)

The hon. Gentleman makes a fair point. On how we can be sure that this will not happen again, and...

Pat McFadden | 701 c324 (Link to this contribution)

I am coming to the end of my remarks; I hope the hon. Gentleman does not mind. I leave the Minist...

Guy Opperman | 701 c325 (Link to this contribution)

It is an honour and privilege to respond at Report of this important Bill, which deals with the c...

Rehman Chishti | 701 c325 (Link to this contribution)

I am grateful to the Minister for allowing me briefly to intervene. He said he has had conversati...

Guy Opperman | 701 cc325-6 (Link to this contribution)

It will take strong pressure by fantastically good constituency MPs such as my hon. Friend, and o...

Pat McFadden | 701 cc326-330 (Link to this contribution)

We have just had a short debate on an amendment that was largely focused on clause 1. Before we f...

Kevin Hollinrake | 701 c330 (Link to this contribution)

The Treasury deserves great credit for introducing this compensation scheme in the first place. I...

Sally-Ann Hart | 701 c330 (Link to this contribution)

Residents in Hastings and Rye have been victims of London Capital & Finance. Does my hon. Friend ...

Kevin Hollinrake | 701 cc330-1 (Link to this contribution)

As I said on Report, it is incumbent on investors to check out investments. If something is payin...

Peter Grant | 701 cc331-2 (Link to this contribution)

The SNP will, as we indicated, support the Bill on Third Reading. I thank everyone who contribute...

James Grundy | 701 cc332-3 (Link to this contribution)

I am pleased that the Government have offered compensation to investors who fell victim to the co...

Rehman Chishti | 701 cc333-4 (Link to this contribution)

I echo the comments made by my hon. Friend the Member for Leigh (James Grundy) and it is a real p...

Guy Opperman | 701 cc334-5 (Link to this contribution)

I rise to respond to colleagues and wrap up the Bill, and I do so with great humility because thi...

Back to top