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On 25 May 2018 the General Data Protection Regulation (GDPR) comes into force, replacing the Data Protection Act 1998. The GDPR applies to the processing of personal data and its objective is to protect individuals in this regard while promoting the free movement of personal data. Insolvency professionals will have obligations under this regulation both as professionals and as office-holders in varying situations and capacities.
Insolvency professionals process personal data as partners/employees/consultants of their respective organisations but also by virtue of their appointments as office-holders. They are subject to the requirements of the GDPR in both capacities, and the implications of this can be daunting.
In preparation for the implementation of the GDPR, we have prepared some guidance for insolvency practitioners and their advisers specifically (with subscription to Lexis R&I PSL):
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