Part of Orders of the Day — Building Societies Bill – in the House of Commons am 5:45 pm ar 17 Mawrth 1997.
John Butterfill
, Bournemouth West
5:45,
17 Mawrth 1997
My hon. Friend is extremely generous in giving way once more. Can he name a bank that would be subject to the constraints imposed by Clause 4, under which it would have to keep 75 per cent. of its total assets secured in loans on residential property? That is what the societies are required to do under the Bill. It is nonsense to suggest that a bank that had experience in loans in a range of commercial activities would be constrained in that way.
A parliamentary bill is divided into sections called clauses.
Printed in the margin next to each clause is a brief explanatory `side-note' giving details of what the effect of the clause will be.
During the committee stage of a bill, MPs examine these clauses in detail and may introduce new clauses of their own or table amendments to the existing clauses.
When a bill becomes an Act of Parliament, clauses become known as sections.
