The new Bill follows emergency legislation previously passed by the Scottish and UK Parliaments to assist in the response to the pandemic.
A key element for the property sector within the Coronavirus (Scotland) (No.2) Bill is the introduction of a 28-day notice period for new agreements entered into by students. This will ensure that students entering into new accommodation contracts for the next academic year, but are then unable to take up the accommodation as planned due to the ongoing COVID-19 restrictions, will be able to give notice and not held liable for accommodation they are not using for the full contract term.
If passed, the Bill will also offer additional protections for those facing bankruptcy by raising to £10,000 the minimum debt level that an individual must owe before a creditor can make them bankrupt and also raise the upper threshold for the availability of the minimal asset process (MAP) to £25,000, meaning more people who find themselves in debt will be able to avoid a costly and lengthy bankruptcy process.
There are also recommended legislative changes in areas including:
- non-domestic rates relief
- proceeds of crime and the wider operation of Scotland’s criminal justice system
The proposed timing of when the Bill will reach the final Parliamentary Stage 3 is in the afternoon of Wednesday 20 May.