Mr. V. Adams
asked the Attorney-General (1) whether he is aware of the practice of raising credit on land through the concealment of equitable charges which are often only disclosed when the question of insolvency arises; and whether, to avoid this practice, he will introduce legislation withholding recognition from equitable charges unless they are registered;
(2) whether he is aware of the number of bad debts arising out of speculative building; and whether he will so amend the bankruptcy laws that, where land is developed for building purposes, the vendor of the land should be treated as a partner with the builder, and should not be allowed to have any charge on the land until the creditors have been paid for the building materials or, alternatively, that the vendor should be treated as a trade creditor?
§ The Attorney-General:
Both these questions suggest changes in the law relating to securities on land based on suggested evils which arise in the case of insolvency. I could not, without further time for investigation and consideration, make any definite statement on the matter, but I will communicate with my hon. and learned Friend when I have had time to do so.