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Chamber and committees

Official Report: search what was said in Parliament

The Official Report is a written record of public meetings of the Parliament and committees.  

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Dates of parliamentary sessions
  1. Session 1: 12 May 1999 to 31 March 2003
  2. Session 2: 7 May 2003 to 2 April 2007
  3. Session 3: 9 May 2007 to 22 March 2011
  4. Session 4: 11 May 2011 to 23 March 2016
  5. Session 5: 12 May 2016 to 4 May 2021
  6. Current session: 13 May 2021 to 22 December 2025
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Displaying 2972 contributions

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Economy and Fair Work Committee [Draft]

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 17 December 2025

Stephen Kerr

You introduced the idea of protections for the original owner in case of theft or, indeed, of fraud. Under the bill, how is it expected that the original owners would obtain effective redress?

Economy and Fair Work Committee [Draft]

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 17 December 2025

Stephen Kerr

No—and I certainly did not. My background, like yours, is certainly not in law. In all honesty, it makes me somewhat uneasy to hear the kinds of things that Fraser Gough has presented to us this morning. The bill is written in the language of legal experts, as it were, but in terms that laypeople—as I will call us—will not readily understand or recognise. That leads to concerns about how people will operate within a law that they do not really understand.

One area of concern relates to acquisition. The bill protects acquirers “in good faith”, but it does not say what “good faith” means. I apologise to the minister, because—with great respect to him—I am almost looking past him, towards Fraser Gough, when I ask my question. The bill does not say what “good faith” means and it does not talk about due diligence at all. Why, in drafting the bill, did you go down that route? I put the question to the minister, but I am sure that he will want to refer it to others.

Economy and Fair Work Committee [Draft]

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 17 December 2025

Stephen Kerr

My point is specifically about “good faith” and what that means, and the issue of due diligence, particularly with regard to incorporeal assets.

Economy and Fair Work Committee [Draft]

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 17 December 2025

Stephen Kerr

Would that not be because we are talking about something that is an intangible? If you were buying an object, such as a house or whatever, you would have it in front of you. As digital assets are intangible, do they not require an additional layer of protection for buyers?

10:15  

Economy and Fair Work Committee [Draft]

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 17 December 2025

Stephen Kerr

There is no intention that there should be any particular redress mechanisms.

Economy and Fair Work Committee [Draft]

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 17 December 2025

Stephen Kerr

Is there no intention that the bill would provide protection to the original owner?

Economy and Fair Work Committee [Draft]

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 17 December 2025

Stephen Kerr

Minister, I think that we are fellow graduates of the University of Stirling, but neither of us did law.

Economy and Fair Work Committee [Draft]

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 17 December 2025

Stephen Kerr

That is quite clear. I do not know why I said that, because nothing is quite clear about this bill, but, in this instance, I think that it is.

Economy and Fair Work Committee [Draft]

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 10 December 2025

Stephen Kerr

—come under the bill to the detriment of future policy, the consumer and the environment?

Economy and Fair Work Committee [Draft]

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 10 December 2025

Stephen Kerr

You make it sound like some kind of Pandora’s box.