Bank for International Settlements (Immunities and Privileges) Order 2021 Debate
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Baroness Whitaker
Main Page: Baroness Whitaker (Labour - Life peer)Department Debates - View all Baroness Whitaker's debates with the Foreign, Commonwealth & Development Office
Bank for International Settlements (Immunities and Privileges) Order 2021
Baroness Whitaker Excerpts(3 years, 9 months ago)
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Baroness Whitaker (Lab) [V]
My Lords, I thank the Minister for introducing the order, which confirms an interesting and potentially very useful innovation. I have just one question. The order confers an extraordinarily widespread immunity on those managing this new hub. I am aware that the Minister has made it clear that these immunities are not for personal gain; nevertheless, employees of the hub are, apart from some civil liability in arbitration, effectively above the law in all their professional work. What steps will the Government take to ensure that individuals do not seek to abuse these privileges?