Financial Services Bill

Baroness Noakes moved amendment 35A, in clause 5, page 4, line 10, at end to insert: “( ) The FSA must issue a statement of policy about— ( ) its understanding of the objective, and ( ) in what circumstances and how it intends to use its powers to achieve the objective. ( ) Before issuing the statement of policy, the FSA must consult— ( ) the Treasury, ( ) the Bank of England, and ( ) such other persons as it considers will or may be affected by the statement..” The Committee divided: