§ Mr. LazarowiczTo ask the Chancellor of the Exchequer if he will bring forward proposals to set up a regulator for the money transmission system. [6647]
§ Mr. Andrew SmithThe Government published in August 2001 a response to consultation on its proposals of December 2000 to give the Office of Fair Trading new powers to promote competition in payment systems (these two documents have been deposited in the House of Commons Library and can be found electronically at http://www.hm-treasury.gov.uk/pub/html/reg/pay.html and http://www.hm-treasury.gov.uk/press/2001/p95 01. html respectively). The Government intend to legislate as soon as parliamentary time permits.