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Secured Lending Reform Bill 2010-12

Type of Bill:
Private Members' Bill (Ballot Bill)
Sponsor:
George Eustice

Progress of the Bill

Bill started in the House of Commons

  1. House of Commons
    1. 1st reading
    2. 2nd reading
    3. Committee stage
    4. Report stage
    5. 3rd reading
  2. House of Lords
    1. 1st reading
    2. 2nd reading
    3. Committee stage
    4. Report stage
    5. 3rd reading
  3. Consideration of Amendments
  4. Royal Assent

Next event

  • 2nd reading: House of Commons 2nd reading: House of Commons | 30.03.2012

Latest Bill

House Bill Date
Commons Bill 23 2010-11 | PDF version, 82KB 20.10.2010

Latest news on the Bill

The sponsoring MP has nominated 30 March 2012 for the second reading. As the House is not expected to sit on this day it is unlikely to be debated on this date.

The Bill was presented to Parliament through the ballot procedure on 30 June 2010. This is known as the first reading and there was no debate on the Bill at this stage.

This Bill is a Private Member’s Bill. These are often not printed until close to the second reading debate. If the text is not yet available here and you wish to know more about this bill please contact its sponsor, George Eustice.

Summary of the Bill

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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