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Banks: Regulation

Volume 489: debated on Thursday 19 March 2009

To ask the Chancellor of the Exchequer if he will introduce legislation to disqualify from holding directorships or board memberships of UK-registered (a) banks and (b) companies all people who have been directors and non-executive board members of (i) Northern Rock, (ii) Bradford and Bingley, (iii) Royal Bank of Scotland and (iv) Halifax Bank of Scotland since 2005. (260181)

Provisions already exist in the Company Directors Disqualification Act 1986 to maintain the integrity of the business environment by providing for the Secretary of State to bring disqualification proceedings against directors and shadow directors whose conduct makes them unfit to be concerned in the management of a company.