Member

My Amendment 21 makes sure that the code of practice will cover the bank recapitalisation power, and the Government should have no difficulty in accepting that, since they have already said that they are going to issue an updated code. My amendment does not cover the content of the code or the timing of its issue, but I hope the Minister will understand that content and timing are important to this Committee and will also be important to the House on Report. I hope that he can give us more detail today or soon after the conclusion of this Committee. By the time we get to Report, the House will want to know as much as possible about the code, especially if it is going to be relied upon to avoid the need to accept more detailed amendments. I say gently to the Minister that it is in the Government’s interest to be as clear as possible about the code’s update and what exactly it will contain. I beg to move.