Welcome to the R3 Technical Library, a unique resource for searching technical and specialist information within the sector. The below are available resources for Legislation Consultations.
SoLR Levy Offset Policy Consultation (5 April 2024)
Ofgem is seeking views on a new proposal for a ‘SoLR Levy Offset’. This follows on from proposals first set out in our June 2022 consultation on Strengthening Financial Resilience. The aim is to recover from failed suppliers (including through the insolvency process) some of the costs that failed suppliers cause. Ofgem would create licence and contractual arrangements such that another party would have a legitimate claim for SoLR Levy costs against a failed supplier. The debt would rank as an unsecured claim in supplier insolvencies. View
Ofgem is seeking views on a new proposal for a ‘SoLR Levy Offset’. This follows on from proposals first set out in our June 2022 consultation on Strengthening Financial Resilience. The aim is to recover from failed suppliers (including through the insolvency process) some of the costs that failed suppliers cause. Ofgem would create licence and contractual arrangements such that another party would have a legitimate claim for SoLR Levy costs against a failed supplier. The debt would rank as an unsecured claim in supplier insolvencies. View
Call for views on the Judicial Factors (Scotland) Bill
The Scottish Technical Committee responded to the recent call for views on the Judicial Factors (Scotland) Bill. View
The Scottish Technical Committee responded to the recent call for views on the Judicial Factors (Scotland) Bill. View
Consultation on the Mental Health Moratorium (22 January 2024)
The Scottish Technical Committee responded to the recent consultation seeking views on the Mental Health Moratorium. View
The Scottish Technical Committee responded to the recent consultation seeking views on the Mental Health Moratorium. View
Definition of Insolvency - Moveable Transactions (Scotland) Act 2023 (8 December 2023)
This consultation sought the views on the definition of insolvency in the Moveable Transactions (Scotland) Act 2023. The consultation paper included a summary of the amendments made to the insolvency definitions at Stage 2 of the legislative process. These were largely reversed at Stage 3 and the paper focussed on the particular issues raised by these amendments. Nevertheless, more general views were also sought on the definitions as well as the more conceptual issue of what insolvency should be intended to capture for the purposes of the legislation in question. View
This consultation sought the views on the definition of insolvency in the Moveable Transactions (Scotland) Act 2023. The consultation paper included a summary of the amendments made to the insolvency definitions at Stage 2 of the legislative process. These were largely reversed at Stage 3 and the paper focussed on the particular issues raised by these amendments. Nevertheless, more general views were also sought on the definitions as well as the more conceptual issue of what insolvency should be intended to capture for the purposes of the legislation in question. View
Proposed changes to Statement of Insolvency Practice 3.3 - Trust Deeds (10 July 2023)
A working group of the Joint Insolvency Committee (JIC) has been reviewing Statement of Insolvency Practice (SIP) 3.3 – Trust Deeds and are now inviting comments on the revised SIP. View
A working group of the Joint Insolvency Committee (JIC) has been reviewing Statement of Insolvency Practice (SIP) 3.3 – Trust Deeds and are now inviting comments on the revised SIP. View
Moveable Transactions (Scotland) Bill (30 August 2022)
The Bill aims to change the law in relation to two areas of moveable property: Assignation of claims – the transfer of a claim from one person to another and Pledges – a type of security (usually for a loan). View
The Bill aims to change the law in relation to two areas of moveable property: Assignation of claims – the transfer of a claim from one person to another and Pledges – a type of security (usually for a loan). View
Scottish Law Commission Eleventh Programme of Law: Consultation (July 2022)
The Scottish Law Commission is seeking suggestions for suitable law reform projects for our next Programme of Law Reform, our Eleventh Programme. It will commence in 2023. View
The Scottish Law Commission is seeking suggestions for suitable law reform projects for our next Programme of Law Reform, our Eleventh Programme. It will commence in 2023. View
Scottish Government. Covid Recovery. A consultation on public services, justice system and other reforms (4 November 2021)
The Scottish Government’s consultation paper “Covid Recovery: A consultation on public services, justice system and other reforms” focuses on reviewing the legislative powers that have supported the Government’s response to Covid. The paper begins with discussion of the Government’s ambitions for Covid recovery and ends with an open question, to invite comments on the action that respondents think is required to support a fair, safe and secure recovery. View
The Scottish Government’s consultation paper “Covid Recovery: A consultation on public services, justice system and other reforms” focuses on reviewing the legislative powers that have supported the Government’s response to Covid. The paper begins with discussion of the Government’s ambitions for Covid recovery and ends with an open question, to invite comments on the action that respondents think is required to support a fair, safe and secure recovery. View
Amendments to the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 Statutory Instrument 2022
This consultation invites views and evidence on the steps that the government proposes to take to amend the Money Laundering Regulations (MLRs). These amendments will allow the government to make some time-sensitive updates to the MLRs, which are required to ensure that the UK continues to meet international standards set by the Financial Action Task Force, whilst also strengthening and ensuring clarity on how the anti-money laundering regime operates, following feedback from industry and supervisors on the implementation of the Money Laundering and Terrorist Financing (Amendment) (EU Exit) Regulations 2020. View
This consultation invites views and evidence on the steps that the government proposes to take to amend the Money Laundering Regulations (MLRs). These amendments will allow the government to make some time-sensitive updates to the MLRs, which are required to ensure that the UK continues to meet international standards set by the Financial Action Task Force, whilst also strengthening and ensuring clarity on how the anti-money laundering regime operates, following feedback from industry and supervisors on the implementation of the Money Laundering and Terrorist Financing (Amendment) (EU Exit) Regulations 2020. View
Financial Conduct Authority - Guidance for Insolvency Practitioners on how to approach regulated firms (January 2020)
The FCA are consulting on non-handbook guidance for insolvency practitioners on how to approach insolvencies of regulated firms. The proposed guidance aims to help IPs comply with our rules and guidance and relevant legislation which aim to achieve better outcomes for consumers and market participants following the failure of a regulated firm. View
The FCA are consulting on non-handbook guidance for insolvency practitioners on how to approach insolvencies of regulated firms. The proposed guidance aims to help IPs comply with our rules and guidance and relevant legislation which aim to achieve better outcomes for consumers and market participants following the failure of a regulated firm. View
R3 response to the review of changes introduced by the Bankruptcy and Debt Advice (Scotland) Act 2014 (Feb 2020)
We welcome the Scottish Government’s review of the changes introduced by BADAS, and the opportunity to contribute the views of our members. The Act came into law at a time when both personal and corporate insolvency numbers were falling, and it introduced a number of important changes to Scotland’s framework for resolving personal debt. View
We welcome the Scottish Government’s review of the changes introduced by BADAS, and the opportunity to contribute the views of our members. The Act came into law at a time when both personal and corporate insolvency numbers were falling, and it introduced a number of important changes to Scotland’s framework for resolving personal debt. View
R3 Response to the Protected Trust Deed Inquiry (Jan 2020)
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R3 Response to Debt Arrangement Scheme (Scotland) Amendment Regulations 2019 (Aug 2019)
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R3 Response to the 'Protecting Your Taxes In Insolvency' consultation (May 2019)
In 2018, the UK Government announced that it would introduce legislation in the Finance Bill 2019-2020 to make HM Revenue & Customs a secondary preferential creditor for certain tax debts paid by employees and customers on the insolvency of a business. View
In 2018, the UK Government announced that it would introduce legislation in the Finance Bill 2019-2020 to make HM Revenue & Customs a secondary preferential creditor for certain tax debts paid by employees and customers on the insolvency of a business. View
R3 Response to the Protected Trust Deed Consultation (April 2019)
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