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A Private member's Bill on secured lending has been tabled in Parliament. The Bill, which is entitled the Secured Lending Reform Bill 2010-2011, is intended to make provision for the rights of secured creditors and to reform the rights of certain creditors to enforce their security and to make other provision regarding secured lending. Mr George Eustice MP is the sponsor of the Bill, which has now reached its second reading stage.
"This is the ultimate statement of where the law on IVAs is to be found in our great common law...