Law Commission publishes consultation on Goods Mortgages Bill draft clauses

Industry News | 17/07/17

On 10 July 2017 the Law Commission (LC) published their limited consultation on the available draft clauses from the Goods Mortgages Bill.

Accompanying notes are available, which explain each clause and set out the consultation questions, together with a shorter summary document and response form. The draft clauses and all accompanying documents are available at: http://www.lawcom.gov.uk/project/bills-of-sale/

The purpose of this consultation is to determine whether the current wording meets LC policy recommendations as set out in their 2016 report. Where LC thinking has developed since they made their recommendations, the LC explain their reasoning and seek views on the drafting.

The LC set out the approach to the matter of registration at a high level, but are still working on draft clauses which they will consult on separately.

If any member wishes to be part of that consultation, please let the LC know by email to bills_of_sale@lawcommission.gsi.gov.uk.

The closing date for this consultation is Monday 7 August 2017. Responses should be emailed to: bills_of_sale@lawcommission.gsi.gov.uk.

The LC intends to share the consultation responses with officials at HM Treasury, the sponsoring department. As set out in more detail on the response form, all responses received will be subject to the Freedom of Information Act 2000, which means that the LC must normally disclose them to those who ask for them.