B

Baroness Noakes (Con)

Speaking in the House of Lords on 10 September 2024

Debate

Bank Resolution (Recapitalisation) Bill [HL]

Contribution

The Minister just referred to an “implicit requirement” in the Act. Does he believe that Section 5 can be interpreted only as requiring the code of practice to include matters relating to the bank recapitalisation power? That would be extraordinary because nobody knew about the bank recapitalisation power when the 2009 Act was drafted, so under the principles of ordinary interpretation, it would not be included.

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