(7 years, 8 months ago)
Ministerial CorrectionsI need to be clear on this. The rationale and scope of the legislation is personal current accounts because that is felt to be the area where the legislation can have the most effect. Businesses of all sizes are unaffected. The only time that businesses are mentioned is that if someone has a current account that falls foul of the matching process, the banks are obliged to provide all the information about the other accounts that that individual may hold. However, it does not stop any business accounts—large or small.
[Official Report, Fifth Delegated Legislation Committee, 6 December 2016; c. 13.]
Letter of correction from Simon Kirby
An error has been identified in the closing speech of the debate in the Fifth Delegated Legislation Committee on Draft Immigration Act 2014 (Current Accounts) (Excluded Accounts and Notification Requirements) Regulations 2016.
The correct response should have been :
I need to be clear on this. The rationale and scope of the legislation is personal current accounts because that is felt to be the area where the legislation can have the most effect. Businesses of all sizes are unaffected. The only time that businesses are mentioned is that if someone has a current account that falls foul of the matching process, the banks are obliged to provide all the information about the other accounts that that individual may hold. However, it does not require firms to carry out an immigration check on any business accounts—large or small.