BusinessBusiness RecoveryHewitt ushers in Enterprise Bill

Hewitt ushers in Enterprise Bill

Department of Trade and Industry secretary Patricia Hewitt has welcomed the enactment of the Enterprise Bill, which finally received Royal Assent last night after a last minute dispute had threatened its survival.

Link: Relief for R3 as Enterprise Bill is passed

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.

Related Articles

Investment firm acquires Avon Steel Company Limited

Business Recovery Investment firm acquires Avon Steel Company Limited

2d Emma Smith, Managing Editor
Manchester law firm enters into administration

Business Recovery Manchester law firm enters into administration

2d Emma Smith, Managing Editor
KPMG appoints new global head of insolvency

Business Recovery KPMG appoints new global head of insolvency

3w Emma Smith, Managing Editor
EY hired by Carillion to review finances

Accounting Firms EY hired by Carillion to review finances

5m Alia Shoaib, Reporter
Using insolvency as a debt recovery tool

Business Recovery Using insolvency as a debt recovery tool

6m Emma Smith, Managing Editor
UK government should support mid-sized businesses to create a ‘new economy’ post-Brexit, says BDO report

Business Recovery UK government should support mid-sized businesses to create a ‘new economy’ post-Brexit, says BDO report

8m Alia Shoaib, Reporter
Over 800 jobs saved as Endless LLP acquires Jones Bootmaker

Business Recovery Over 800 jobs saved as Endless LLP acquires Jones Bootmaker

9m Emma Smith, Managing Editor
FRP Advisory expands operation with new office, partner appointments

Accounting Firms FRP Advisory expands operation with new office, partner appointments

10m Emma Smith, Managing Editor