The following Restructuring & Insolvency practice note provides comprehensive and up to date legal information covering:
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The Small Business, Enterprise and Employment Act 2015 (SBEEA 2015) received Royal Assent on 26 March 2015 and introduced a series of amendments and legislative clarifications intended to ensure that the UK continues to be recognised globally as a trusted and fair place to do business and open up opportunities for small businesses to innovate and compete. This has brought in a number of changes to companies and insolvency to ensure a strong regulatory regime for those that administer insolvencies.
In this Practice Note, we consider those provisions that concern the regulation of insolvency practitioners (IPs) (SBEEA 2015, ss 137–143) and introduce a reserve power to establish a single regulator (SBEEA 2015, ss 144–146 and Sch 11) which came into force on 1 October 2015 under the Small Business, Enterprise and Employment Act 2015 (Commencement No 2 and Transitional Provisions) Regulations 2015, SI 2015/1689 (ie when section 17 of the Deregulation Act 2015 (DA 2015) came into force).
For a red-line version of the changes to the IA 1986, click below:
The majority of the provisions of SBEEA 2015 were brought into force by statutory instrument, save for certain provisions (not relevant to this Practice Note), which came into force on 26 May 2015, by virtue of SBEEA 2015, s 164(3)(i)(ii). For details of the other major changes
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Coronavirus (COVID-19): The guidance detailing normal practice set out in this Practice Note may be affected by measures concerning process and procedure in the civil courts that have been introduced as a result of the coronavirus (COVID-19) pandemic. For guidance, see Practice Note: Coronavirus
Definition of automatismAn act is done in a state of automatism if it is done by the body without control by the mind, (eg it is a spasm or a reflex), or if it is done by a person who is not conscious of what they are doing. The act may be described as involuntary, but will not be regarded as such
The Standard Conditions of Sale (SCS), currently in their 5th edition (2018 revision), are a set of standard conditions which are commonly incorporated into contracts for the sale of residential property. The Standard Commercial Property Conditions (Third Edition—2018 Revision) (SCPC) are used for
Deceit—what is it?A deceit occurs when a misrepresentation is made with the express intention of defrauding a party, subsequently causing loss to that party.The elements of a claim in deceit are:•a clear false representation of fact or law•fraud by the maker, in the sense that they knew that the
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