Clearing Banks

HC Deb 27 July 1979 vol 971 c598W

Mr. Marlow

asked the Secretary of State for Trade whether he will refer the clearing banks to the Monopolies and Mergers Commission.

Mrs. Sally Oppenheim

Reference to the Monopolies and Mergers Commission are normally a matter for the Director General of Fair Trading. I understand he has no plans to refer the services provided by the clearing banks to the Commission under the Fair Trading Act 1973. The clearing banks are parties to a number of restrictive agreements which have been registered and are being dealt with by the Director General in pursuance of his duty under the Restrictive Trade Practices Act 1976.