§ [Nos. 11 and 12.]
§
Clause 14, page 8, leave out lines 38 to 40 and insert—
'2(A) If a separate entity (not being a State's central bank or other monetary authority) submits to the jurisdiction in respect of proceedings in the case of which it is entitled to immunity by virtue of subsection (2) above, subsections (1) to (4) of section 13 above shall apply to it in respect of those proceedings as if references to a State were references to that entity.
2(B) Property of a State's central bank or other monetary authority shall not be regarded for the purposes of subsection (4) of section 13 above as in use or intended for use for commercial purposes; and where any such bank or authority is a separate entity subsections (1) to (3) of that section shall apply to it as if references to a State were references to the bank or authority.'
§ Clause 14 page 9, line 2, leave out 'subsection (2)' and Insert 'subsections (2) and 2A)'.
§ The LORD CHANCELLORMy Lords, I beg to move that this House doth agree with the Commons in their Amendments Nos. 11 and 12, upon which I have already commented.
§ Moved, That this House doth agree with the Commons in the said Amendments.—(The Lord Chancellor.)
§ Baroness ELLESMy Lords, I wish to express gratitude on behalf of my 321 noble friends for the acceptance of the Amendment, which was substantially introduced by my right honourable friend in another place. We consider that the Amendment considerably improves the Bill in relation to central banks, and we are grateful for the Government's attitude towards it.
§ On Question, Motion agreed to.