Meeting of the Parliament 27 June 2018
I am going to press on for now.
As well as the provisions that I have mentioned, the bill makes some miscellaneous provisions, which I want to mention briefly before time runs out. First, the bill allows for agreements to extend the five-year prescription by no more than one year in order to allow parties time to negotiate an end to their dispute without the need for protective proceedings. The committee recognises the merit in those agreements. Secondly, the bill adds to the definition of “relevant claim” in order to take account of claims that are made in sequestrations and company administration receiverships.
In concluding my opening remarks, I again thank the Delegated Powers and Law Reform Committee for its scrutiny of and support for the bill’s general principles. The approach that is taken in the bill is not one of wholesale reform. Its aim is to focus on and address those particular areas that have caused difficulty in practice. The Scottish Government believes that the bill strikes a fair balance overall in redressing cases of unfairness for creditors and debtors while also serving the wider interests of fairness, justice and certainty.
In those circumstances, I move that the Parliament agrees to the general principles of the Prescription (Scotland) Bill.