The objective of the United Kingdom Treasury and the Bank of England in establishing the Committee of Inspection was that we should produce a full and coherent review of the law relating to banking mechanisms and practices, taking into account technological and other developments. This task was daunting in prospect and proved to be formidable in its execution. I led the Committee, joined by Liliana Archibald, a working member of Lloyd’s of London, former official of the European Community and expert on international insurance and trade policy issues, and G. W. Taylor, who had just then retired as Chairman and Chief Executive of the Midland Bank.