» Friday, October 31, 2008

HBOS/Lloyds Merger

Asked if the Government would give the go ahead to the HBOS/Lloyds merger, the PMS said that there would be an Office of Fair Trading report published today and that it was for BERR to respond to that report. As we had said at the time of the merger, the Secretary of State for Business would modify legislation affecting takeovers so that the stability of the UK financial system could be taken account of in consideration of the public interest. Section 42 of the Enterprise Act 2002 allowed the Secretary of State to extend the grounds for considering public interest and on 7 October BERR laid an Order in Parliament to enable Ministers to intervene and make decisions on mergers that may impact on the UK’s financial stability. The Order had been approved by Parliament and came into force on 24 October.

original source.

Briefing took place at 11:00 | Search for related news

No Comments »

No comments yet.

RSS feed for comments on this post.

Post a public comment

(You must give an email address, but it will not be displayed to the public.)
(You may give your website, and it will be displayed to the public.)

Comments:

This is not a way of contacting the Prime Minister. If you would like to contact the Prime Minister, go to the 10 Downing Street official site.

Privacy note: Shortly after posting, your name and comment will be displayed on the site. This means that people searching for your name on the Internet will be able to find and read your comment.

Downing Street Says...

The unofficial site which lets you comment on the UK Prime Minister's official briefings. About us...

Search


October 2008
Mon Tue Wed Thu Fri Sat Sun
« Sep   Nov »
 12345
6789101112
13141516171819
20212223242526
2728293031  

Supported by

mySociety.org

Disruptive Proactivity

Recent Briefings


Archives

Links

Syndicate (RSS/XML)

Credits

Enquiries

Contact Sam Smith.

This site is powered by WordPress. Theme by Jag Singh