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<p>The Deregulation Bill and the Small Business, Enterprise and Employment Bill, both
currently before Parliament, contain a number of proposals relating to insolvency
which will amend the Insolvency Act 1986. Amongst these proposals are: deregulatory
and Red Tape Challenge measures aimed at reducing unnecessary regulations and costs
in insolvency proceedings; measures to strengthen and improve confidence in the insolvency
practitioner regulatory regime; measures aimed at improving creditor redress where
company directors are culpable for debts; and a reserve power to make regulations
relating to pre-pack administrations.</p><p> </p><p> </p><p> </p><p>I have also laid
a statutory instrument which will amend the creditor petition bankruptcy limit as
set out in the Insolvency Act.</p><p><strong> </strong></p>
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