Remaining stages: Financial Services (Banking Reform) Bill

09 July 2013

MPs completed the debate on the report stage and third reading of the Financial Services (Banking Reform) Bill in the House of Commons on Tuesday 9 July 2013

The report stage of the Financial Services (Banking Reform) Bill was held over two days in the Commons Chamber. Day one took place on Monday 8 July. Day two of the report stage took place on Tuesday 9 July, along with the third reading of the Bill.

The Bill has now completed all of its Commons stages and will be introduced into the House of Lords for consideration.

Financial Services (Banking Reform) Bill: Report stage day two and third reading

Financial Services (Banking Reform) Bill: Report stage day one

Summary of the Financial Services (Banking Reform) Bill

To make further provision about banking and other financial services, including provision about the Financial Services Compensation Scheme; to make provision for the amounts owed in respect of certain deposits to be treated as a preferential debt on insolvency; to make provision about the accounts of the Bank of England and its wholly owned subsidiaries; and for connected purposes.

Progress of the Financial Services (Banking Reform) Bill

The Bill was introduced in the House of Commons in the 2012-13 session on 4 February 2013. The Bill was one of five which were selected by the Government to carry over into the 2013-14 session.

Keep up to date with all the proceedings and documentation, including amendment papers, on the Finance Bill and find out how a bill becomes an Act of Parliament.

House of Commons Library analysis

The House of Commons Library produces briefing papers to inform MPs of key issues. The papers contain factual information and a range of opinions on each subject, and aim to be politically impartial.

What is the report stage of a bill?

The report stage gives MPs an opportunity, on the floor of the House, to consider any further amendments (proposals for change) to a bill which has been examined in a public bill committee or on the floor of the House. There is no set time period between the end of committee stage and the start of the report stage.

What happens at report stage?

All MPs may speak and vote. For lengthy or complex bills, the debates may be spread over several days. All MPs can suggest amendments to the bill or new clauses (parts) that they think should be added.

What happens after report stage?

Report stage is usually followed immediately by debate on the bill's third reading.

What happens at third reading?

Debate on the bill is usually short, and limited to what is actually in the bill, rather than, as at second reading, what might have been included. Amendments (proposals for change) cannot be made to a bill at a third reading in the Commons. At the end of the debate, the House decides (votes on) whether to approve the third reading of the bill.

What happens after third reading?

If the bill started in the Commons it goes to the House of Lords for its first reading.

If the bill started in the Lords it returns to the House of Lords for consideration of any amendments the Commons has made.

Watching proceedings from the public gallery

UK residents and overseas visitors can watch proceedings in the House of Commons by visiting the public gallery.

This article was produced by the Commons Digital Outreach Team. Follow @HouseofCommons on Twitter for updates on the UK House of Commons Chamber.

Image: iStockphoto

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