§ Mr. Squireasked the Secretary of State for Trade and Industry if he will list the representations made to his Department on the Diamond report on the law relating to security over moveables.
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§ Mr. HowardI assume my hon. Friend is referring to the consultative paper issued by my Department last July as part of Professor Diamond's review. The paper made no proposals but rather sought views on the legal and commercial need for reform and the form any changes might take. A wide range of views were expressed on the broad issues raised in chapters 4 and 5 of the paper but there was general agreement that the Companies Act provisions on registration of company charges are unsatisfactory and should be improved. [Some 70 references were received.]
If my hon. Friend wishes me to do so, I will let him have a list of respondents.
§ Mr. Squireasked the Secretary of State for Trade and Industry if he has now reached any conclusions on the Diamond report on the law relating to security over moveables and its effect on leasing and hire purchase; and if he will make a statement.
§ Mr. HowardProfessor Diamond was originally asked to report by 31 December 1986 but is not now expected to do so before May. The delay reflects the considerable degree of interest shown in the review and the weight of the responses to the consultative paper issued by my Department last July.