§ Lord Brougham and Vaux
asked Her Majesty's Government:
What are their proposals for subordinate legislation in connection with the provisions under the Courts and Legal Services Act on the tying-in of services to residential property loans.
§ The Minister of State, Department of Trade and Industry (Lord Hesketh)
My honourable friend the Minister for Corporate Affairs is today issuing a Consultative Document setting out the Government's proposal; for the subordinate legislation required to bring into force the provisions in the Courts and Legal Services Act on the tying-in of services to residential property loans. However, as the document explains and as was made clear during the passage of the Act, if the industry had a simpler way of avoiding tying-in by lenders which it could police adequately and which would provide for at least as much disclosure as the Act's provisions, the Government could be open to persuasion that bringing the relevant provisions into force would not be necessary.