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Chamber and committees

Official Report: search what was said in Parliament

The Official Report is a written record of public meetings of the Parliament and committees.  

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Dates of parliamentary sessions
  1. Session 1: 12 May 1999 to 31 March 2003
  2. Session 2: 7 May 2003 to 2 April 2007
  3. Session 3: 9 May 2007 to 22 March 2011
  4. Session 4: 11 May 2011 to 23 March 2016
  5. Session 5: 12 May 2016 to 4 May 2021
  6. Current session: 13 May 2021 to 27 December 2025
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Displaying 1257 contributions

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Delegated Powers and Law Reform Committee

Moveable Transactions (Scotland) Bill: Stage 1

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

Moveable Transactions (Scotland) Bill: Stage 1

Meeting date: 25 October 2022

Paul Sweeney

Thank you鈥攖hat is helpful.

10:45  

Delegated Powers and Law Reform Committee

Moveable Transactions (Scotland) Bill: Stage 1

Meeting date: 25 October 2022

Paul Sweeney

Colin, do you have any thoughts?

Delegated Powers and Law Reform Committee

Moveable Transactions (Scotland) Bill: Stage 1

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.

10:15  

Delegated Powers and Law Reform Committee

Moveable Transactions (Scotland) Bill: Stage 1

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

Moveable Transactions (Scotland) Bill: Stage 1

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

Moveable Transactions (Scotland) Bill: Stage 1

Meeting date: 25 October 2022

Paul Sweeney

Thanks very much for that. I appreciate those thoughts.

Delegated Powers and Law Reform Committee

Moveable Transactions (Scotland) Bill: Stage 1

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

Moveable Transactions (Scotland) Bill: Stage 1

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

Moveable Transactions (Scotland) Bill: Stage 1

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?