Secured Lending Reform Bill 2010-12
Progress of the Bill
Bill started in the House of Commons
- House of Commons
- House of Lords
- Royal Assent
- 1st reading: House of Commons 30 June, 2010 | 30.06.2010
|Bill 23 2010-11 | PDF version, 82KB||20.10.2010|
Latest news on the Secured Lending Reform Bill 2010-12The Bill failed to complete its passage through Parliament before the end of the session. This means the Bill will make no further progress.
Summary of the Secured Lending Reform Bill 2010-12
The Bill would curtail the role of receivers with a view to encouraging banks to work with their customers to find solutions when repayment difficulties arise. It would remove the power of sale from receivers and would limit their role to receiving income from assets.
The Bill would also prevent banks from gaining a possession order until all counter-claims and disputes lodged by a borrower have been resolved by the courts.
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