| Title:
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THE FUTURE OF CHEQUES
GOVERNMENT AND PAYMENTS COUNCIL RESPONSES TO THE EIGHTEENTH REPORT OF SESSION 2010-12, TWENTY-THIRD REPORT OF SESSION 2010-12, REPORT, TOGETHER WITH FORMAL MINUTES |
| By: |
Great Britain: Parliament: House of Commons: Treasury Committee, Andrew Tyrie |
| Format: |
Paperback |
| List price:
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£5.00 |
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| ISBN 10: |
0215038711 |
| ISBN 13: |
9780215038715 |
| Publisher: |
TSO |
| Pub. date: |
16 November, 2011 |
| Series: |
House of Commons Papers |
| Pages: |
15 |
| Synopsis: |
The Treasury Committee's further report on the future of cheques, which includes the Government and Payments Council responses to the earlier report (18th report, session 2010-12, HC 1147, ISBN 9780215561190), focuses on the Payments Council's decision to re-examine the abolition of the cheque guarantee card as well as the Government's commitment to bring the Payments Council within the scope of financial regulation. The report concludes that the Payments Council must provide further details of the research it is undertaking on the guarantee card as well as the decision-making process it will undertake once the research is complete. There is a case for reintroducing either the cheque guarantee card scheme or an alternative mechanism to ensure cheque acceptors have confidence when accepting cheques. Without such a scheme there is a risk that more and more shops and other bodies will refuse to accept cheques; the cheque would wither on the vine. An increasing number of shops and other organisations are refusing to accept cheques as a result of the abolition of the guarantee card.Bringing the Payments Council within the scope of financial regulation is needed to ensure there is never again a repetition of the cheques debacle. The Payments Council was able to take decisions affecting millions of people at its own initiative without any effective scrutiny by a regulatory body. |
| Publication: |
UK |
| Imprint: |
TSO |
| Returns: |
Non-returnable |