First Review of the Insolvency (England and Wales) Rules 2016
The Secretary of State’s first review of the operation of the Insolvency (England and Wales) Rules 2016.
Applies to England, Scotland and Wales
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The Insolvency (England and Wales) Rules 2016 (“the Rules”) set out the detailed procedure for the conduct of company and individual insolvency proceedings under the Insolvency Act 1986. The Rules were introduced to consolidate and modernise the earlier Insolvency Rules 1986 and certain other insolvency legislation, with the aim of providing a system that is easier for users to understand. They made a number of changes to how insolvency proceedings are managed, and gave effect to other changes that had been introduced with the Deregulation Act 2015 and Small Business, Enterprise and Employment Act 2015.
This review of the Rules examines the system of regulation established by the Rules. It considers whether the goals for which the Rules were introduced remain appropriate, and in turn whether the Rules remain both effective and the best way to meet those aims.