§ Mr. McCrindleTo ask the Chancellor of the Exchequer if he has received any representations concerning current expenditure limits on cheque guarantee cards; if he has any plans to ask the Office of Fair Trading to examine the operation by the banks of such limits; and if he will make a statement.
§ Mr. LilleyI have received no representations on the limits applicable to cheque guarantee cards. I am, however, advised that the Association for Payment Clearing Services, which is the responsible body, has yet to take a final position on the expenditure limit for cheque cards issued under the cheque guarantee card scheme, but that it is likely to do so in the near future. The current agreements between the banks and building societies concerning the standard cheque card scheme have, I understand, been furnished to the Director General of Fair Trading for examination in accordance with the requirements of the Restrictive Trade Practices Act 1976. Individual banks are free to issue their own cheque guarantee cards providing for higher limits outside the scheme.