- Reforming bills of sale—what might the Goods Mortgages Bill look like?
- Original news
- Why was reform needed, what is the objective of the new law?
- What is the target timescale?
- What types of financing transactions will fall within the scope of the new law?
- How will the process for taking security under the new law differ from existing law?
- What sanctions will lenders who fail to follow it face?
- How will the process for enforcing security under the new law differ from existing law?
- What is the expected impact of the borrower protections upon the lending market?
Banking & Finance analysis: Daria Popescu, lawyer at the Law Commission, considers the draft proposals made by the Law Commission for the Goods Mortgages Bill to modernise bills of sale.
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