---

Housing and Regeneration Bill

My Lords, I am grateful to the Government for acting on the concerns that I raised at the previous stage about disposals without consent. I would have preferred to see something which more closely mirrored the position that would have applied with other companies on an insolvency, but the proposed amendment is a good one. A question has just occurred to me and I am sorry I did not think of this before and give notice. If the purported disposal is one where there has been an agreement to sell more properties than come within the exception and the purchaser has paid a deposit, what happens to that deposit? Of course, anyone with his wits about him would provide for the possibility of a moratorium when drafting a sale agreement. There must be an answer. If the purported disposal is void, would the deposit go back to the failed purchaser? It would be helpful to have clarity on that.