Removal of a peerage

From: Alasdair <mail@xxxxxxxxxxxxxxx>
Date: Tue, 05 Jun 2012 00:53:28 +0100

Is it possible to remove a peerage from someone who has behaved really
badly? I know a knighthood can be removed (e.g. Fred Goodwin) but
does a peerage not require an Act of Parliament?

--
Alasdair.
.

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