HC Deb 07 May 1987 vol 115 cc876-7

Lords amendment: No. 23, in page 38, line 41, leave out shall be subject to annulment in pursuance of a resolution of either and insert no such regulations shall be made unless a draft of them has been laid before and approved by a resolution of each

Mr. Ian Stewart

I beg to move, That this House doth agree with the Lords in the said amendment.

Amendment No.23 fulfills an undertaking that I gave on Report. At the time, I agreed that, if the Government wished to introduce rules specifying the circumstances in which the auditors of authorised institutions should communicate information to supervisors, as the hon. Member for Thurrock (Dr. McDonald) suggested, it would be more appropriately dealt with by affirmative resolution of both Houses of Parliament. Again, I am happy to agree to that. I am glad that the provision has been able to be included in the Bill.

Dr. McDonald

My remarks will be even briefer on amendment No. 23. I thank the Economic Secretary for ensuring that the amendment that I proposed in Committee has been put forward in the other place and is now part of the Bill.

Question put and agreed to.

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