ENFORCEMENT OF BANK OF ENGLAND ACT 1694
- Session: 2008-09
- Date tabled: 20.04.2009
- Primary sponsor:
- Sponsors:
That this House, observing that the intention of the founding Act of the Bank of England in 1694 was `that their Majesties' subjects may not be oppressed by the said corporation', notes that those subjects have been seriously oppressed by the Bank's failure to control the greed, risk-taking and speculation of the banking system over which it presides; and therefore suggests that this oppression should be dealt with as the Act provides by fines three times the value of the abusive trading.