(This note is not part of the Order)
This Order brings into force provisions of the Deregulation Act 2015 (“the Act”) that relate to bankruptcy and the exercise of regulatory functions.
Article 2 brings into force section 19 so far as it relates to paragraph 12 of Schedule 6 to the Act (which amends the Insolvency Act). Section 19 gives effect to Schedule 6 to the Act. Paragraph 12 of Schedule 6 specifies that paragraphs 13 to 16 of Schedule 6 amend Part 9 of the Insolvency Act 1986 (bankruptcy).
Article 2 brings into force section 108 of the Act, which provides that a person exercising a regulatory function to which section 108 applies must, when exercising that function, have regard to the desirability of promoting economic growth.
Article 2 also brings into force section 110(3) of the Act, which provides that a person who has a duty under section 108 must have regard to guidance issued by a Minister of the Crown under section 110(1). The guidance will come into force on the twenty first day after the day on which the Deregulation Act 2015 (Growth Duty Guidance) Order 2017 (S.I. 2017/268) is made.
An impact assessment has not been produced for this instrument as it has no impact on businesses and civil society organisations.