The Official Report is a written record of public meetings of the Parliament and committees.
All Official Reports of meetings in the Debating Chamber of the Scottish Parliament.
All Official Reports of public meetings of committees.
Displaying 1317 contributions
Delegated Powers and Law Reform Committee
Meeting date: 25 October 2022
Paul Sweeney
On the issue of limiting access to finance for small businesses, I note that sole traders are excluded from the bill鈥檚 consumer protections. Do you agree with that approach? Mirka, you said that there are other legislative remedies or protections that could be applied. I am interested to hear from both of you your thoughts on that exclusion from the consumer protections in the bill.
Delegated Powers and Law Reform Committee
Meeting date: 25 October 2022
Paul Sweeney
Thank you鈥攖hat is helpful.
10:45Delegated Powers and Law Reform Committee
Meeting date: 25 October 2022
Paul Sweeney
Colin, do you have any thoughts?
Delegated Powers and Law Reform Committee
Meeting date: 25 October 2022
Paul Sweeney
I want to get your thoughts on a problematic scenario that the bill would create. A lender would not need to get a court order to seize items that had been pledged by a sole trader or small business in the event that they missed repayments on their loan. Are you happy that greater protection鈥攚hich might consequentially come with a higher interest rate鈥攚ould not be needed? I suppose that it is a question of striking the right balance.
10:15Delegated Powers and Law Reform Committee
Meeting date: 25 October 2022
Paul Sweeney
That would be appreciated, and if you had any proposals for appropriate or proportionate protections鈥攚ith regard to, say, when a seizure could take place鈥攖hat would be helpful, too. Mirka, do you have any thoughts on that?
Delegated Powers and Law Reform Committee
Meeting date: 25 October 2022
Paul Sweeney
That is really helpful, particularly with regard to the best practice from mainstream lending institutions and what we could design to ensure that nothing could outflank it. Any further thoughts on that would be really helpful.
Delegated Powers and Law Reform Committee
Meeting date: 25 October 2022
Paul Sweeney
Thanks very much for that. I appreciate those thoughts.
Delegated Powers and Law Reform Committee
Meeting date: 25 October 2022
Paul Sweeney
Just to be clear, would you be particularly concerned if consumers were excluded from the ambit of the bill?
Delegated Powers and Law Reform Committee
Meeting date: 25 October 2022
Paul Sweeney
Would you have any particular concerns if consumers were excluded from the ambit of the bill?
Delegated Powers and Law Reform Committee
Meeting date: 25 October 2022
Paul Sweeney
Another concern that was raised was about making sure that the data that is held on the register is accurate and can be updated easily. There are concerns that registers might contain disputed or out-of-date information, which could have a negative impact on individuals. Is there a need for more user-friendly corrections and dispute resolution processes, as exist for credit reference information?