| Commentary

11 Deregulation Act 2015

| Commentary

11 Deregulation Act 2015

Deeds of arrangement were abolished with effect from 1 October 20151. The reason is that individual voluntary arrangements, which bind all creditors even when they were unaware of the proposal, have effectively replaced them.

The Deregulation Act 2015 also introduced a new system for the regulation of insolvency practitioners, including a regime for partial authorisation of insolvency practitioners and, consequentially, abolished the regime whereby persons could be authorised to act as supervisors and nominees of voluntary arrangements2.

This Act also contained provisions amending the Insolvency Act 1986, coming into effect with the

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