Clause 1

Part of Financial Mutuals Arrangements Bill – in a Public Bill Committee am 9:30 am ar 25 Ebrill 2007.

Danfonwch hysbysiad imi am ddadleuon fel hyn

Photo of John Butterfill John Butterfill Ceidwadwyr, Bournemouth West 9:30, 25 Ebrill 2007

I am happy with the new clause with one possible exception: the affirmative resolution procedure. The way in which building societies and others will be affected is sufficiently well established by the Bill that it will not necessarily require the affirmative procedure, which will delay the implementation of various parts of the Bill and involve much greater parliamentary work. I do not think that the provisions deal with matters that necessarily require the further scrutiny that one would normally ascribe to the affirmative procedure. Nevertheless, it has been very encouraging that any differences between us have been on a procedural matter rather than on the principles behind the Bill. Those on both sides of the House, and indeed all parties in the House, feel that we should try to get the Bill on to the statute book and implemented as soon as possible. The amendments are self-explanatory and sensible. I have no difficulties at all with the new clause.