Property update — January 2014: commercial rent arrears (CRAR)
Another set of regulations has been laid before Parliament, in anticipation of the new commercial rent arrears recovery (CRAR) procedure coming into force on 6 April 2014.
In England and Wales, the process of seizing goods, and selling them to satisfy debts, is being modernised. The procedures that enforcement agents (who replace bailiffs) will have to follow are going to be much more heavily prescribed.
The fees and disbursements that enforcement agents will be able to recover from debtors have been set out in this latest set of regulations…
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Firms carrying on consumer-credit-related regulated activity need to ensure they are complying with the requirements set out in the Consumer Credit Sourcebook (CONC).
The changes announced on 16 October 2014 by the Home Office to the Tier 1 (Investor) Visa route come into effect on 6 November 2014.