Write the words of this act the way you think they should read. Solon shows your change as a redline against the published text and pins it to that exact text, so it can never be applied to wording you did not see.
Change 1
As published
60 Circumstances in which Treasury power of direction exercisable
(1) This section makes provision about the circumstances in which the Treasury's power of direction under section 61 is exercisable, subject to the provisions of that section.
(2) Where a public funds notification has been given, the power of direction is exercisable by reference to the notification unless the notification has been superseded by a notification under section 59(3).
(3) Where qualifying financial assistance has been provided, the power of direction is exercisable by reference to the provision of the assistance unless it appears to the Treasury that the assistance has been recovered.
(4) It is immaterial for the purposes of subsection (3)—
(a) whether the qualifying financial assistance was provided before or after the commencement of this section, and
(b) whether or not a public funds notification had been given in connection with it.
(5) For the purposes of this Part qualifying financial assistance is provided if, and only if—
(a) the Treasury or the Secretary of State provide financial assistance to or in respect of a financial institution,
(b) the Treasury incur expenditure in connection with the exercise by the Treasury, the Bank, the PRA, the FCA or the Secretary of State of any of their powers under Parts 1 to 3 of the Banking Act 2009 or under Schedule 11 to the Financial Services and Markets Act 2023,
(c) the Treasury arrange a loan from the National Loans Fund in pursuance of a request by the scheme manager of the Financial Services Compensation Scheme under section 223B of FSMA 2000, or
(d) the Treasury provide financial assistance to the scheme manager of that scheme for the purpose of funding expenses incurred or expected to be incurred under it.
(6) For the purposes of this section the circumstances in which qualifying financial assistance is to be taken to have been recovered include the following—
(a) where, in the case of a loan, the principal of the loan has been repaid and all interest due under the terms of the loan has been paid,
(b) where, in the case of a guarantee or indemnity, the Treasury or the Secretary of State will not become liable under the guarantee or indemnity,
(c) where, in a case involving the issue or transfer of shares to the Treasury in connection with the provision of qualifying financial assistance, the shares are no longer held by the Treasury.
Your change, as a redline
60 Circumstances in which Treasury power of direction exercisable
(1) This section makes provision about the circumstances in which the Treasury's power of direction under section 61 is exercisable, subject to the provisions of that section.
(2) Where a public funds notification has been given, the power of direction is exercisable by reference to the notification unless the notification has been superseded by a notification under section 59(3).
(3) Where qualifying financial assistance has been provided, the power of direction is exercisable by reference to the provision of the assistance unless it appears to the Treasury that the assistance has been recovered.
(4) It is immaterial for the purposes of subsection (3)—
(a) whether the qualifying financial assistance was provided before or after the commencement of this section, and
(b) whether or not a public funds notification had been given in connection with it.
(5) For the purposes of this Part qualifying financial assistance is provided if, and only if—
(a) the Treasury or the Secretary of State provide financial assistance to or in respect of a financial institution,
(b) the Treasury incur expenditure in connection with the exercise by the Treasury, the Bank, the PRA, the FCA or the Secretary of State of any of their powers under Parts 1 to 3 of the Banking Act 2009 or under Schedule 11 to the Financial Services and Markets Act 2023,
(c) the Treasury arrange a loan from the National Loans Fund in pursuance of a request by the scheme manager of the Financial Services Compensation Scheme under section 223B of FSMA 2000, or
(d) the Treasury provide financial assistance to the scheme manager of that scheme for the purpose of funding expenses incurred or expected to be incurred under it.
(6) For the purposes of this section the circumstances in which qualifying financial assistance is to be taken to have been recovered include the following—
(a) where, in the case of a loan, the principal of the loan has been repaid and all interest due under the terms of the loan has been paid,
(b) where, in the case of a guarantee or indemnity, the Treasury or the Secretary of State will not become liable under the guarantee or indemnity,
(c) where, in a case involving the issue or transfer of shares to the Treasury in connection with the provision of qualifying financial assistance, the shares are no longer held by the Treasury.
One line that says what changes, such as "Halve the dog tax".
Who it helps, what it costs, what it fixes. It is what persuades people to support it.
A proposal here is not law. Support on Solon is evidence that people want the change; the official route says what it takes to make it law.
Sign in to file your proposal. What you have written stays on this page.
Ask what your change would do, who would gain and who would bear a cost, and where something like it is already law. The assistant reads your draft as it stands, cites the law and the studies it finds, and takes no side. What you file stays yours.