Earlier this month the Government published its Corporate Insolvency and Governance Bill. The bill aims to make provision about companies and other entities in financial difficulty and to make temporary changes to the law relating to the governance and regulation of companies and other entities.
The Bill was introduced to the House of Commons and given its First Reading on Wednesday 20 May 2020. MPs will next consider all stages of the Bill on Wednesday 3 June 2020. Track the bill as it makes its way through parliament here
To help companies understand the bill, the Government has published a range of factsheets that can be seen here
The factsheets cover:
- Overview of the Corporate Insolvency and Governance Bill
- Summary of Retrospective Provisions
- Financial Services Exclusions
- Statutory Demands and Winding Up Petitions
- Wrongful Trading
- Termination Clauses
- Annual General Meetings
- Delegated and Henry VIII powers.