Further consideration of Retentions legislation delayed again

Further to our e-update on New Legal Rules for Retention in the Construction Sector, the Second Reading of the Aldous Bill [ The Construction (Retention Deposit Schemes) Bill ] which seeks to outlaw retentions unless deposited in the hands of an independent third party, has been pushed back yet again from 26th October 2018 to 23rd November 2018.

While the Bill is supported by over 80 construction industry organisations and, it is believed, around 200 MPs at Westminster, certain interests remain opposed to the Bill. The delayed Second Reading may reflect a need for more time to try to reach as wide a consensus as possible on the proposed new law. That said, in light of the Carillion collapse when hundreds of millions of pounds of retention monies were lost throughout the extensive Carillion supply chain, some might ask the question – what will it take for some action to be taken to protect retention monies?

The Bill is unlikely to make its way into law without support from the UK government and lack of parliamentary time due to Brexit may also be having an effect.

We’ll keep you updated with any developments.

Latest updates from @MacRoberts

  • MacRoberts is delighted to be shortlisted at this year’s Scottish Legal Awards! We're up for Firm of the Year & t… https://t.co/LfaBwKCeXC 19 hours ago
  • Have you and your partner been considering moving in together? Are you aware of the legal implications that this ma… https://t.co/BCgW2nHnCR 29/07/2021
  • Following a consultation in 2019, the UK Government has outlined its intention to introduce a mandatory duty on emp… https://t.co/2XBrafRQ22 29/07/2021
  • Our award-winning Family Law team can help you and your partner through difficult situations by providing support w… https://t.co/sOwEmv13fP 27/07/2021
  • To celebrate the Olympic Games in Tokyo, we're delighted to launch our latest sporting challenge in support of our… https://t.co/Y8IEq3eT53 23/07/2021
  • MacRoberts is recruiting! We are currently looking for a Real Estate Planning Solicitor to join the MacRoberts tea… https://t.co/ioGQaF2hQc 23/07/2021
  • The countdown is on! With just 100 days to go, we’re looking forward to #COP26 in Glasgow! ♻️ As a firm accredite… https://t.co/Ooldhmo8tW 22/07/2021
  • Has lockdown led you to consider a move to the countryside? From discussing a possible purchase to obtaining the… https://t.co/patbF42pjk 22/07/2021
  • Have you seen our latest vacancies? 💼 We currently have opportunities in various departments across the firm. Fin… https://t.co/NpiWs2sphg 21/07/2021
  • Acas has published new guidance for employers with helpful information on #flexibleworking & #hybridworking. With t… https://t.co/SoX87hFkko 20/07/2021
  • Busting the myth that a career in law is only for the privileged few: @marikaflawyer is speaking at this morning’s… https://t.co/awfcub4cw0 19/07/2021
  • MacRoberts is recruiting! We are currently looking for a Support Services Assistant to join our team in Edinburgh.… https://t.co/DJ27fRmmdb 16/07/2021
  • MacRoberts is pleased to have been part of the team advising @HV_Systems in its £5m capital boost from Beehive Equi… https://t.co/BxcwjCgIVk 15/07/2021
  • MacRoberts is recruiting! We are currently looking for a NQ Solicitor to join our Conveyancing & Private Client te… https://t.co/zubGY4zo0D 14/07/2021
  • For the last of our IGTV mini-series, we hear from Katie MacLeod. She will be giving an insight into what it’s like… https://t.co/0v2nNQ9zzZ 14/07/2021