Member

Will the Minister explain the Government’s position on three points? First, do the Government accept that the combined effect of Clauses 6 and 10 is to extend, in practice, the period within which the FCA may impose a consumer redress scheme from six years to 10, and does he anticipate that the change we described in Amendment 17A has an effect on these notices and on the time limits applicable? Secondly, if they accept that, what is the justification for such a significant extension? Thirdly, if they do not intend to allow the FCA to impose redress schemes where no legal remedy would be available because of limitation, will they accept the principle behind Amendment 44?