That is beyond hilarious lol. Finally found something the UK does better than the Netherlands ;)
It's not so much about the reading out loud, it's about making sure you understand (so that you cannot later claim "but I didn't know about this, nobody explained it to me properly")
The whole point of a contract is you sign your name to the words on the paper, and you are attesting that the words therein are correct and what you agree to.