The Deregulation Bill: reducing standards?
The government is debating the proposals to the Deregulation Bill. Although the bill is generally supported, there is one controversial clause (Clause 9), which will introduce partial licences for insolvency practitioners (IPs). Currently, IPs must train and pass exams covering both corporate and personal insolvency to become qualified. Under the new proposals in the bill, IPs would be able to train in personal or corporate insolvency and then only practise in their respective field.
The government has introduced the new measures to try to increase competition and to reduce bureaucracy in the market. However, the response is mixed, including some scathing criticism revolving around the core of the measures’ aim and the adverse effect on competition and smaller practices…
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