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ENFORCEMENT OF BANK OF ENGLAND ACT 1694

EDM (Early Day Motion) 597: tabled on 22 July 2010

Tabled in the 2010-12 session.

This motion has been signed by 15 Members. It has not yet had any amendments submitted.

As this motion is using historical data, we may not have the record of the original ordering, in which case signatories are listed alphabetically.

Motion text

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 in the sum of three times the value of the abusive trading.