Draft Insolvency Rules sent to the Insolvency Rules Committee for statutory consultation
On 20 July 2015, the Insolvency Service met with members of the Insolvency Rules Committee (IRC) to discuss the draft Insolvency Rules 2016, which have been updated as part of a modernisation project and to take forward policy changes under various pieces of primary legislation. The draft rules and an explanatory note of the policy changes are published.
Following consultation on the draft rules we have continued to work very closely with stakeholders to ensure that the rules are effective in their implementation of the policy. We are very grateful to those that have continued to work with us on this project. We are now at the next stage of this project and will be liaising with the IRC, whose role is to review the changes to rules before reporting to the Lord Chancellor (who is responsible for making these rules). Subject to this work, it is anticipated that the Rules will be made in Spring 2016, with a commencement date of 1 October 2016.
