Member

I thank the noble Lords, Lord Moynihan, Lord Markham and Lord Parkinson of Whitley Bay, as well as the members of the Delegated Powers and Regulatory Reform Committee, for their engagement on Clause 92. The original intention of this was to allow the regulator’s regime to keep pace with any future changes to the structure and definition of seasons in the industry. However, we have recognised the concerns regarding the delegated power and are content that the risk of the definition in the Bill becoming outdated is low. That is why we have tabled an amendment removing this delegated power. I hope this will satisfy noble Lords’ concerns on these issues. I commend Amendments 24 and 87.