A Bill to make provision regarding the rights of secured debtors; to reform the rights of certain creditors to enforce their security; to make other provision regarding secured lending; and for connected purposes.
The Bill would curtail the role of receivers with a view to encouraging banks to work with their customers to find solutions when repayment difficulties arise. It would remove the power of sale from receivers and would limit their role to receiving income from assets. The Bill would also prevent banks from gaining a possession order until all counter-claims and disputes lodged by a borrower have been resolved by the courts.
House of Commons
1 May 2012
May contain errors — check source documents for definitive information.
The Secured Lending Reform Bill aims to reform how secured lending is enforced. It would reduce the powers of receivers by removing their right to sell assets and restricting them to collecting income from assets, and it would require banks to work with borrowers to find solutions when repayments become difficult. It would also stop banks from gaining possession orders until all borrower counter-claims and disputes have been resolved by the courts.
The bill is currently at the 2nd reading in the House of Commons. It originated in the Commons, with the first reading on 30 June 2010.
Generated 21 February 2026
30 Jun 2010
No recorded votes for this bill yet.
