§ 1. Mr. Hendry
asked the Lord Advocate what action he proposes to take to implement the proposals in the Eighth Report of the Law Reform Committee for Scotland for the constitution of securities over moveables.
§ The Lord Advocate (Mr. William Grant)
The recommendations in the Report referred to are being carefully examined by my right hon. Friend the Secretary of State for Scotland and myself, in consultation with my right hon. Friend the President of the Board of Trade. I am not yet in a position to make any statement as to the implementation of the recommendations.
§ Mr. Hendry
As the Report makes it clear that the lack of this legislation is one of the reasons why insufficient Scottish capital is being invested in Scotland and is a barrier to industrial expansion there, and in view of the high level of unemployment in Scotland, will my right hon. and learned Friend please examine as a matter of urgency a Bill which I myself have prepared on this subject, and will he do all he possibly can to encourage it?
§ The Lord Advocate
I assure my hon. Friend that I am fully aware of the force of the considerations on which the Committee's recommendations were based. I congratulate my hon. Friend on his initiative and I shall certainly read his draft Bill with interest.
§ Mr. Hector Hughes
Does not the Lord Advocate realise that the issues involved in this matter affect the business life of Scotland and are just as urgent and important as the other matter to which he addressed himself last week with such energy and in such a constructive way, namely, "Lady Chatterley's Lover", otherwise "Lady Loverley's Chatter"?
§ The Lord Advocate
The hon. and learned Gentleman's supplementary question is covered by what I have just said to my hon. Friend. He will, however, realise that the recommendations 176 in question raise difficult problems of Scots law and would also involve amendment of the Companies Act, 1948, which, of course, is a United Kingdom Statute.