✓ Passed into LawLords
UK Parliament · Bill
Compensation (London Capital & Finance plc and Fraud Compensation Fund) Act 2021
Summary
This Act sets up a special fund to compensate people who lost savings when London Capital & Finance plc went bust in a fraud scandal. It ensures victims of this particular fraud receive financial help to recover their losses.
A vote to support means
- —Supporting this Act means helping people who lost money when London Capital & Finance plc collapsed due to fraud. The Act creates a compensation fund to repay victims, so ordinary people aren't left out of pocket because of criminal wrongdoing.
A vote to oppose means
- —Critics might worry about the cost to taxpayers who didn't invest with the company. Others could argue it sets a difficult precedent—if the government compensates all fraud victims, the costs could become very large.
Cast Your Vote
People's Vote0 votes
0% Support · 00% Oppose · 0
Parliament's Vote344 MPs
15% Ayes · 5285% Noes · 292
Bill Passage
Commons
- 1st reading12 May 2021
- 2nd reading8 Jun 2021
- Committee stage15 Jun 2021
- Report stage22 Sept 2021
- 3rd reading22 Sept 2021
Lords
- 1st reading11 Oct 2021
- 2nd reading19 Oct 2021
- 3rd reading19 Oct 2021
Royal Assent20 Oct 2021
Full Bill Description(click to expand)
No description available