Important amendments and clarifications have been made to the Insolvency Act 1986 (the "Insolvency Act") pursuant to the Small Business, Enterprise and Employment Act 2015 ("SBEEA") and the Deregulation Act 2015, both of which recently received royal assent. These changes are intended to create a more robust regulatory framework for the administration of insolvencies and increase flexibility for insolvency practitioners. Most of the changes made by SBEEA will be introduced by separate statutory instruments, but some are effective from 26 May 2015.
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