Dear Stakeholder
As you may be aware, the Insolvency Service has been working to modernise and consolidate the Insolvency Rules 1986 and the many amending instruments. Rather than simply consolidating the existing rules and amendments, we are modernising and recasting the rules and reordering the whole structure on more logical and clear lines.
The Government’s Red Tape Challenge (‘RTC’) initiative to remove unnecessary and burdensome regulation has given us a further opportunity to improve the Insolvency Rules and we have begun to incorporate some of the proposed RTC measures in the draft rules. Although the drafting is ongoing we want to give stakeholders an early opportunity to comment and so a working draft of the rules has now been published for consultation.
A link to the consultation paper, together with the press notice, are below.
In any changes of this nature, the input of the end users of the legislation – creditors, representative organisations, insolvency practitioners, their legal advisers and others – is extremely valuable. We would therefore appreciate your comments on the draft rules.
The deadline for comments is 24 January 2014.
Press notice – http://insolvency.presscentre.com/content/default.aspx?NewsAreaId=2
Consultation – https://www.gov.uk/government/consultations/modernisation-of-the-rules-relating-to-insolvency-law
Yours faithfully
Anne Willcocks
Director of External Affairs
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