The dispute, which revolved around the governance of the Office of Fair Trading, was resolved after a compromise was reached with opposition MPs.
Hewitt said: ‘The Enterprise Act is good news for business, consumers and the economy. It will open up markets, increasing competitive pressures.’
Furthermore, she said, the Act would help give ‘entrepreneurs who failed honestly’ a second chance.
The Acts provisions on corporate insolvency and the abolition of Crown preference will commence early in the 2003 financial year, while reforms to the Insolvency Service’s financial regime will come into force in 2004.
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies