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Bank Regulation

Volume 406: debated on Monday 9 June 2003

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To ask the Chancellor of the Exchequer if he will set out the timetable for the introduction of legislation to empower the Office of Fair Trading to regulate the bank clearing system; and if he will make a statement. [117717]

The Government are closely monitoring developments in payment systems and will introduce legislation to give the Office of Fair Trading new powers to promote effective competition in payment systems as soon as parliamentary time allows.