Last night the Growth and Infrastructure Bill passed the House of Lords. It is expected to receive Royal Assent today, with a commencement date in the future.
The effect of this is that ‘shares for rights’ will become law. However, the effect of ‘Parliamentary ping pong’ between the House of Lords and the House of Commons has been to ensure that a number of amendments have been made to the Bill. Following the amendments the legislation looks as if it will be unworkable in practice and it is hard to imagine many (if any) people entering into such arrangements.
Lord Pannick QC spoke powerfully at all stages of the Bill in the Lords. I would recommend as interesting reading, the most recent debate generally and in particular, these two contributions:
http://www.theyworkforyou.com/
http://www.theyworkforyou.com/
