My Lords, perhaps I may say a word about Amendment 169E. The noble Lord referred to the right to suspend the credit period. That is a very different remedy, if that is the right term in this context, from the arrangement in the proposed new section. I readily acknowledge that I have little experience of construction contracts; I have a bit, but not very much. For a party to a contract of any kind to be able at any time unilaterally to change its terms—which is how I read the right to "request" security, although the proposed new subsection (2) turns it into a requirement—when that was not a term that was negotiated when the contract was being put into place, I find interesting. As a point of principle, bluntly, I am against that, although I do not for a moment want to minimise the problems in the industry that the noble Lord described. I am far from convinced that this is a proper proposal to put into legislation.
Local Democracy, Economic Development and Construction Bill [HL]
Proceeding contribution from
Baroness Hamwee
(Liberal Democrat)
in the House of Lords on Wednesday, 22 April 2009.
It occurred during Debate on bills on Local Democracy, Economic Development and Construction Bill [HL].
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2008-09Chamber / Committee
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