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Advancing the credit profession

Consultation Responses for 2016

The Department for Business, Energy & Industrial Strategy (BEIS): Small Business Commissioner: Policy for Secondary Legislation. Opened 13 October 2016, closed 7 December 2016

The Department for Business, Energy & Industrial Strategy (BEIS) published a consultation on the policy which will underpin the complaints scheme of the Small Business Commissioner. BEIS sought input on policy questions from businesses of all sizes to ensure transparency and that the Commissioner achieves fairness in pursuit of its ultimate aim of culture change.

CICM was one of a group of respondents who were contacted by BEIS to give a view on the policy which will underpin the complaints scheme of the Commissioner.

To read the consultation click here, to view the Institute’s response click here.
The Insolvency Service: Bonding arrangements for insolvency practitioners. Opened 15 September 2016, closed 30 November 2016

The Insolvency Service published a Call for Evidence seeking views on the bonding arrangements for insolvency practitioners. The call for evidence will help the Government to decide whether it should propose changes to legislation governing the arrangements.

To read the call for evidence click here, to view the Institute’s response click here.
Accountant in Bankruptcy: Diligence Review consultation. Opened 6 September 2016, closed 30 November 2016

The Accountant in Bankruptcy (AiB) launched a consultation as part of its review of the Bankruptcy and Diligence etc. (Scotland) Act 2007 (“the 2007 Act”). This review will assess, wherever possible, the impact of the diligence measures introduced by the 2007 Act, including those provisions which are not yet in force.

 To read the consultation document click here, to view the Institute’s response click here.
House of Lords: Select Committee on Financial Exclusion. Opened 27 July 2016 , closed 14 September 2016

The House of Lords Select Committee published a call for evidence to consider financial exclusion and access to mainstream financial services. Areas of focus included definitions and causes of financial exclusion, addressing financial exclusion, financial education and capability, and accessing credit.

 To read the consultation document click here, to view the Institute’s response click here.
 Joint Insolvency Committee: Revision to SIP 15. Opened 1 August 2016, closed 12 September 2016

The Joint Insolvency Committee (JIC) consulted on a revised version of Statement of Insolvency Practice 15 – reporting and providing information on their functions to committees in formal insolvencies and SIP 15 (Scotland) – reporting and providing information on their functions to committees (and commissioners in sequestrations) in formal insolvencies. The main change is that the new draft acknowledges that creditors  should be in a position to make an informed decision on whether they wish to seek nomination to a committee. It also recognises that information may be made available to creditors through a variety of mediums.

To read the consultation document click here, to view the Institute’s response click here.

Accountant in Bankruptcy: Consolidation of Bankruptcy Regulations. Opened 5 August 2016, closed 31 August 2016 

The Accountant in Bankruptcy has launched an informal consultation on proposals to have one set of Bankruptcy Regulations in Scotland, taking in the existing common financial tool and money advice provisions.

To read more about the proposals click here, to view the Institute’s response click here.

Department for Business Innovation & Skills: Further Education & Sixth Form Colleges – Consultation on developing an Insolvency Regime for the Sector. Opened 6 July 2016, closed 5 August 2016

Government consulted on its proposals to introduce a suite of procedures for further education and colleges who become insolvent. The main proposals  set out the mechanisms for the revised approach to handling insolvent colleges.

 To view the consultation click here, to view the Institute’s response click here

The Insolvency Service – A Review of the Corporate Insolvency Framework. Opened 25 May 2016, closed 6 July 2016

Government consulted on ways to improve the corporate insolvency framework including measures such as the introduction of a new moratorium to help business rescue, helping businesses to continue to trade during restructuring, developing a flexible restructuring plan, and the availability of rescue finance.

You may also want to read the press release ‘New 90-day moratorium for failing businesses will seriously impact creditors, CICM warns’

To view the consultation click here, to view the Institute’s response click here

Changes to the publication schedule for statistics on Enforcement Outcomes. Opened 25 May 2016, closed 17 June 2016

The Insolvency Service is consulting on proposed changes to the Insolvency Service Enforcement Outcomes publication.

To view the consultation click here, to view the Institute’s response click here

Public Financial Guidance Review. Opened 16 March 2016, closed 8 June 2016

The government plans to restructure debt advice, and money guidance and to replace the Money Advice Service with a new smaller body with effect from 2018.  This consultation seeks views on the role of the new service and the transition arrangements.

 To view the consultation click here, to view the Institute’s response click here

Protected Trust Deed Consultation 2016. Opened 14 March 2016, closed 25 April 2016

The Accountant in Bankruptcy is carrying out  a review of the Protected Trust Deed (PTD) legislation that was introduced by the Protected Trust Deed (Scotland) Regulations 2013.  The AiB is seeking views on the changes that were introduced in 2013 and also the issue of equity in PTDs.

 To view the consultation click here, to view the Institute’s response, click here

Civil Courts Structure Review. Opened 2 December 2015, closed 29 February 2016

Lord Justice Briggs has published the interim report of his review of the Civil Courts Structure. The report asks for the views on a number of detailed issues.

 To view the report click here, to view the Institute’s response click here

Review of how we use our persistent misuse of calls. Opened 2 December 2015, closed 24 February 2016

Ofcom has powers to take action if a person ‘persistently misuses an electronic communications network or service’ and is required by law to publish a ‘general policy’ on how they are likely to use these powers, and to consider this when exercising them. Ofcom is reviewing the current policy and is consulting on proposals to change it.

To view the consultation click here to view the Institute’s response click here

New Statutory Guidance to support General Conditions of Recognition. Opened 22 December 2015, closed 31 January 2016

A recent Ofqual consultation sought views on the new statutory guidance to support the general conditions of recognition.

 To view the consultation click here, to view the Institute’s response click here