New Clause 1 - Agreement between vendor and purchaser
Homes Bill
9:45 am
Mr Don Foster (Bath, Liberal Democrat)
There is indeed a similar, but different, system operating in Scotland. I am sure that the hon. Gentleman, who is diligent in his research, will be aware that there are also similar schemes in other parts of the world, notably in a number of American states. Like his hon. Friend the Member for Hertford and Stortford, whose research contributed greatly to the development of this Bill, we have looked at some of the defects of other systems, including those used in Scotland and America. The key issue is addressed in new clause 3, that is, the reasons why people are able legitimately to say that they are not at fault in the sale having been frustrated. It is important that new clause 3—or any Government substitute for new clause 3 that might be tabled—makes clear the reasons why it could be perfectly right and understandable for the deposits not to be paid back. That has been our aim. I repeat that the new clauses are to a large extent based on the work of the hon. Member for Hertford and Stortford, whose name appears above all three new clauses.