Part of Orders of the Day — Building Societies Bill – in the House of Commons am 5:30 pm ar 17 Mawrth 1997.
Does my hon. Friend accept that there is already an unevenness? The converting societies have been restrained from engaging in a range of activities for the whole of their existence, whereas the organisations for which they may be bidding have not been subject to those constraints. Converting societies start off uneven. The purpose of the transitional relief is to give them a period within which they can come up to speed and be on equal terms with those that are already plcs and engaged in those activities.