Bill to create new form of legal guardianship reaches final Commons stages
Week in Westminster
Published: 24 February 2017 | Author: Michelle Vosper
This week Conservative MP Kevin Hollinrake’s Guardianship (Missing Persons) Bill completed its committee stage in a record 20 minutes and with no amendments. The Bill will give the courts the power to appoint a guardian to take control of some or all of the property and financial affairs of a person who has been missing for at least 90 days and act on their behalf. Our support for this legislation was referred to during the committee debate - our News & Views article explains more. The Bill has its remaining Commons stages today before it passes to the House of Lords for consideration.
Credit rating agencies
According to a report in the Financial Times the prospect of Brexit has created doubts about the future of credit rating agencies’ activities in the UK. The big three rating agencies are overseen by the European Securities and Markets Authority. There is currently no UK regulator and the report suggests it could take many months to prepare either the Financial Conduct Authority or the Bank of England to take over this role.
The High Speed Rail (London – West Midlands) Bill has received royal assent, and now paves the way for construction to begin on the new HS2 train line.
The Welsh Assembly’s finance committee considered amendments to the Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Bill. In particular, the committee discussed the tax treatment in respect of cross-border properties.
Assembly member Steffan Lewis put down an amendment to ensure that the Wales/England border is defined before properties on the border could be pursued for Land Transaction Tax.
Finance and local government secretary Mark Drakeford confirmed that the Land Registry is now able to provide a digital map so that apportionment can be on a secure basis, and offered to work with Mr Lewis to bring forward an amendment which takes this development into account.