Financial Services Bill

Debate between Lord Stewartby and Lord Flight

Tuesday 10th July 2012 Lords Chamber

[Lord Stewartby]

My Lords, I would like to add a word to what the noble Lord, Lord Peston, has said, in particular to ask my noble friend Lord Flight about the frequency with which this situation is likely to happen. Would it be an exceptionally rare event, because that may affect the way in which one approaches it?

[Lord Flight]

My Lords, I was simply making the point that if this power is used, and as a check against its improper use, there should be the requirement to explain why.