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Delay in outlawing bans on assignment
The Department for Business, Innovation & Skills (“BIS”) announced its intention to bring forward legislation outlawing bans on assignment in commercial contracts as long ago as December 2014.
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Bills of Sale Reform
On 12 September 2016 the Law Commission published its final report containing proposals to modernise the archaic Bills of Sale regime. The driver for reform was the increased use of logbook loans in the consumer vehicle finance market, but the registration of whole turnover invoice finance agreements with sole traders and partnerships as Bills of Sale also fell to be considered.
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