§ Mr. BercowTo ask the Chancellor of the Exchequer if he will make a statement on the effect of the draft protocol to the 2000 convention on mutual assistance in criminal matters between the member states of the European Union (10076/01; Council) and UK banks; and for what reason Article 50 of the Schengen Convention is repealed thereby. [13001]
§ Mr. Bob AinsworthI have been asked to reply.
This draft Protocol builds on the European Union (EU) Mutual Legal Assistance Convention 2000. It imposes obligations on member states to respond to requests from other member states for information on bank accounts in the context of criminal investigations. There is a further obligation to establish the ability to monitor transactions within a specified account or accounts. Consideration is taking place as to the practical implications of this draft instrument for the banks and others.
Article 50 of the convention implementing the Schengen Agreement of 14 June 1985 relates only to assistance in the investigation of fiscal and excise offences. It is therefore of narrower scope, and will be superseded by this instrument when it comes into force.