The Insolvency Act

This is an Act of Parliament amending the law relating to the insolvency of natural persons and incorporated and unincorporated bodies. The Act outlines provisions to regulate the bankruptcy of natural persons; provisions specifying the procedures for bankruptcy that will enable the affairs of insolvent natural persons to be managed for the benefit of their creditors; provisions for the liquidation of incorporated and unincorporated bodies; provisions specifying the liquidation procedures that will enable the affairs of such of those bodies as become insolvent to be administered for the benefit of their creditors; and other ancillary matters.