HC Deb 28 October 1985 vol 84 cc694-5

Lords amendment No. 6: The Lords have disagreed to the amendments made by the Commons in

page 31, line 7, after 'bankruptcy', insert `or other similar orders in, or in connection with, bankruptcy proceedings'. and

page 31, line 10, leave out 'to the same effect' and insert but any right or interest acquired for value before the registration or publication shall not be prejudiced by the effect of the act and warrant or by such registration or publication.'. and have made the following amendments to the Bill in lieu thereof:

Page 31, line 1, leave out subsection (4).

Mr. Deputy Speaker

With this it will be convenient to take Lords amendment No. 7.

The Solicitor-General for Scotland

I beg to move, That this House doth not insist upon the amendments made by the Commons in page 31, line 7, and in page 31, line 10, but that the House doth agree to amendments Nos. 6 and 7 to the Bill made by the Lords in lieu of those amendments.

The purpose of the amendments is to restrict to Scotland clauses 30 and 37, which provide for the vesting of the debtor's estate in, and the ingathering of the estate by, the permanent trustee. As my noble and learned Friend the Lord Advocate discussed in some detail when introducing these amendments in another place, they have arisen because of apparent practical difficulty in applying the principle of universal vesting of a debtor's estate in the permanent trustee in other parts of the United Kingdom outwith Scotland. This practical difficulty has been resolved by means of new provisions in the Insolvency Bill which will allow for regulations to provide that the permanent trustee will have the same rights in relation to property in England, Wales and Northern Ireland as he would if he had been appointed a trustee in bankrupty under the law of any of those countries.

These new provisions will have the effect of putting a permanent trustee in a Scottish sequestration in a stronger position than if he had simply to rely on clause 30 extending to other parts of the United Kingdom outwith Scotland. It also ensures that due account is taken of the position under local law where the property is situated and that there is reciprocity between all parts of the United Kingdom.

Question put and agreed to.

Lords amendment No. 7 agreed to.

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