Latest news on the Bill

On 10 March, the House of Commons was asked, under the Ten Minute Rule motion, to give leave for this Bill to be introduced.  The sponsor was allowed 10 minutes to support the Bill and there was ten minutes for other MPs to comment.  The House agreed and the Bill was read a first time.

This Bill was on the Order Paper for a Second Reading on several Fridays before being dropped by its sponsor, Ann Clwyd.

Summary of the Bill

This Bill would allow the pensions of board members of banks to be limited in circumstances in which a bank has been taken wholly or partly into public ownership because it was deemed incapable of trading as solvent or likely to go into administration. The amount of any reduction in pension would depend on the board member's responsibility for the events in question.

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