Mutualisation of the Royal Bank of Scotland Bill

A Bill to transfer the ownership of the Royal Bank of Scotland to its customers and employees; and for connected purposes.

Originating House

House of Commons

Sponsor

Gareth ThomasLabour (Co-op)

Last Updated

28 April 2017

In Plain English

AI-generated

Mutualisation of the Royal Bank of Scotland Bill would transfer ownership of the Royal Bank of Scotland from current shareholders to its customers and employees, creating a mutual, customer- and employee-owned bank. It sets out the legal framework and related provisions needed to carry out the transfer.

Key Points

Transfers ownership to customers and employees, creating a mutual ownership model.
Establishes the legal framework for implementing the transfer and related transitional arrangements.
Addresses governance and financial arrangements to support the mutual model while maintaining banking service continuity.
Involves the government and regulators in overseeing the transition and ensuring stability.
The bill is currently at the second reading in the House of Commons; if approved it would proceed to committee stage for detailed examination.

Progress

The bill is at the second reading in the Commons. If it passes, it will move to committee stage for detailed scrutiny, followed by report and third readings, and then consideration by the Lords.

Who is affected?

RBS customersRBS employeesThe government and taxpayersThe wider public who use RBS servicesThe UK financial services sector and local communities relying on RBS

Generated 21 February 2026

Updates & Documents

News (1)

News - Mutualisation of the Royal Bank of Scotland

1 Jan 1970

This Bill was expected to have its second reading debate on Friday 12 May 2017.

However, as a General Election has now been called and Parliament will be dissolved from 3 May 2017, the Bill falls and no further action will be taken.

Parliamentary Votes (0)

No recorded votes for this bill yet.

Mutualisation of the Royal Bank of Scotland Bill | TrackPolitics