The Official Report is a written record of public meetings of the Parliament and committees.
All Official Reports of meetings in the Debating Chamber of the Scottish Parliament.
All Official Reports of public meetings of committees.
Displaying 1877 contributions
Economy and Fair Work Committee
Meeting date: 13 September 2023
Claire Baker
I invite Kevin Stewart for a supplementary.
Economy and Fair Work Committee
Meeting date: 13 September 2023
Claire Baker
David Menzies, do you want to comment before I bring in Maggie Chapman?
Economy and Fair Work Committee
Meeting date: 13 September 2023
Claire Baker
Our second item of business is a decision to take item 5 in private. Are members content to do so?
Members indicated agreement.
Economy and Fair Work Committee
Meeting date: 13 September 2023
Claire Baker
Our next item of business is a stage 1 evidence-taking session on the general principles of the Bankruptcy and Diligence (Scotland) Bill. The bill aims to make changes to the law around bankruptcy and diligence by implementing various stakeholder-led recommendations. I thank all those who replied to the committee’s call for evidence. We are grateful for the submissions, which will help shape our consideration of the bill.
I welcome Dr Alisdair MacPherson, who is a committee member of the banking, company and insolvency law sub-committee of the Law Society of Scotland; Katie McLachlan, who is a licensed personal insolvency practitioner in insolvency and restructuring, from the Association of Business Recovery Professionals, known as R3; David Menzies, who is director of practice at the Institute of Chartered Accountants of Scotland; and Barry Mochan, who is a board member at the Insolvency Practitioners Association. As always, it will be helpful if members and witnesses keep their questions and answers as concise as possible. I will open with questions to Alisdair MacPherson, but I will give everyone the chance to address them.
The Government is adopting a three-stage approach to reforms in this area. I mentioned the responses that we have had to the bill; many talk about other areas that go beyond what is in the bill and other improvements that they would like to see in this field of work. The Government has argued that it is trying to strike a balance between regulatory and statutory duties. Alisdair, does the Law Society have a view on whether the Government has got that balance right? Does the bill cover the areas that should be statutory, and do you agree that other areas that people are arguing should be included in the bill are better suited to regulations?
Economy and Fair Work Committee
Meeting date: 13 September 2023
Claire Baker
Thank you. Kevin Stewart, do you have any relevant interests to declare?
Economy and Fair Work Committee
Meeting date: 13 September 2023
Claire Baker
Thank you. Finally, I invite Brian Whittle to declare any relevant interests.
Economy and Fair Work Committee
Meeting date: 13 September 2023
Claire Baker
Before I bring in Maggie Chapman, I have a point to make. What we are looking at in considering the bill is simply agreeing to the principle of a mental health moratorium. We are not agreeing the detail of it. Some of the correspondents said that it was difficult to give an authoritative view on the bill because they do not know what the scheme will actually look like.
10:00You have mentioned the breathing space scheme in England and Wales and the working group seems to be heading towards a model that is very similar to that. Why do we not just introduce the breathing space scheme so that we all know what we will be voting on? Are there any problems with that scheme? Alisdair MacPherson, you seem to be familiar with it: are there problems? Are there likely to be any changes to what we have in Scotland? We seem to be holding up progress and I am not sure what the point of that is.
Economy and Fair Work Committee
Meeting date: 13 September 2023
Claire Baker
Thank you. I call Colin Smyth.
Economy and Fair Work Committee
Meeting date: 13 September 2023
Claire Baker
Thank you. I now invite Ash Regan to declare any relevant interests.
Economy and Fair Work Committee
Meeting date: 13 September 2023
Claire Baker
Therefore, if a creditor receives nothing back from the bank, there is just an assumption that there is not enough money but there is no confirmation that that is the situation. Is that how it operates at the moment?