Member

Amendment 27, in the name of the noble Baroness, Lady Bowles of Berkhamsted, would remove the ability of regulations made to be ambulatory and would require the Treasury to update regulations if any rules they reference change. However, it is necessary for the power to make ambulatory provision to provide sufficient scope for the regulation to operate in a practical way. In particular, it may be necessary for regulations to reference other instruments that may be amended, such as FCA rules, in order to act rapidly if there is clear evidence of consumer detriment that must be addressed.