19th May 2021 |
This document outlines the Heads of the General Scheme of the Companies (Small Company Administrative Rescue Process and Miscellaneous Provisions) Bill 2021 and accompanying Regulatory Impact Analysis. Also included is a copy of the Department’s public consultation report which summarises responses received to the public consultation held in relation to the Bill.
The purpose of the Bill is to provide a dedicated rescue framework for the benefit of small and micro companies, which is more cost efficient and capable of conclusion within a shorter period of time than examinership. The Bill seeks to mirror elements of examinership in an administrative context thereby reducing court oversight resulting in efficiencies and lower comparable costs.
Commerce, Consumer and Competition