HC Deb 22 July 1970 vol 804 cc528-9
28. Mr. Marks

asked the President of the Board of Trade if he will introduce legislation requiring travel agents and estate agents to hold all moneys received from clients' deposits in a separate trust account.

Mr. Noble

I should prefer to watch the development of the voluntary bonding schemes in these sectors before deciding whether statutory control is necessary.

Mr. Marks

Is not the President of the Board of Trade aware that there is concern about this and that concern has been expressed by the Consumer Council? Is he aware that there is holding of more than one deposit on a house by estate agents? Will he look further into this?

Mr. Noble

Yes, of course I will. As I am sure the hon. Member knows, the Edwards Report particularly suggested a new system of bonding, and there are many other aspects of this problem. Perhaps as a result of pressure in this House, things have improved a great deal in the last year. We are looking at this at the moment, and will try to improve matters further.