The Law Commission Consultative Report on Company Security Interests: An Irreverent Riposte

I was once at a sermon by a well-known Northern Ireland politician and minister of religion in which, talking about the fall from grace of a British minister following a sex scandal, he commented that while the will of God worked slowly it also worked surely. Be that as it may, one might comment that the process of law reform, whatever about working surely, can certainly work slowly. Back in July 2002 the Law Commission produced with some haste a consultation paper on Registration of Security Interests . ¹ There was a bit of a fanfare, a short consultation period and talk of imminent legislative change. Things went quiet for a while. More than 2 years later the Law Commission came back in September 2004 with a further consultation paper only this time called a "consultative report" ² with the promise of a Final Report in July 2005. In this article I will look at the consultative report and ask whether it is going to be the harbinger of legislative transformation.