M
Member
Speaking in the House of Lords on 7 September 2026
Debate
Financial Services and Markets Bill [HL]Contribution
The IHT423 procedure is going to become increasingly important. It is a discretion exercisable by financial institutions as to whether or not they want to take part. My amendment seeks to make it non-discretionary—rather, statutory—that if a financial institution wants to do business in the UK and be registered under the FCA, it must allow IHT423, and it must be paid at the appropriate time.
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