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Consultation on proposals to consolidate and replace the Insolvency Rules 1986 (the Rules). The Insolvency Rules 1986 have been extensively amended by numerous amending Instruments (23 since 1986) in order to reflect changes in primary legislation, case law and policy. Regular additions and deletions of text at different times has resulted in legislation which has been criticised by the House of Lords as an “impenetrable thicket”.
We propose to modernise and recast the Rules; taking the opportunity to reorder the whole structure on more logical and clear lines.