COMMONHOLD AND LEASEHOLD REFORM ACT 2002

That this House welcomes the Commencement Order made on 16th November that will bring into force some of the key remaining leasehold provisions of the Commonhold and Leasehold Reform Act 2002, requiring landlords to send out written reminders with dates for ground rents before they are able to impose any penalties for late payment and preventing landlords from insisting that leaseholders use a specific insurance company to insure the property; and hopes that this legislation, which comes into force on 28th February 2005, will prevent companies such as Estates and Management Ltd., with a complicated ownership structure including companies registered in the Bahamas and the British Virgin Islands controlled at the top by the Tchenguiz Family Trust, from exploiting elderly and vulnerable householders.