The Insolvency Service project to consolidate and modernise the secondary insolvency legislation, featuring particularly the Insolvency Rules, is progressing with a view to the new legislation coming into force in October 2007.

Following meetings and consultation with various stakeholder groups and users to obtain their views on changes to the legislation, Policy Unit of The Insolvency Service have gathered in many suggestions for revision to the existing secondary insolvency legislation. Those comments are now subject to review with our lawyers who are charged with the drafting of the new provisions. Matters now being addressed include, but are not limited to, the following:

• Consideration is being given to removing requirements to file in court copies of Gazette notices and we are also considering whether greater discretion could be provided to allow office-holders to decide when it is appropriate to advertise insolvency events in local newspapers (in addition to the requirement to Gazette);

• We expect the new Insolvency Rules to include the provision of an index of definitions in response to user requests, and we anticipate moving common provisions to Common Parts within the new Rules.

•  Ideas for simplification and fuller write out of the Insolvent Partnerships Order and the Administration of Insolvent Estates of Deceased Persons Order provisions have been received and we expect to carry out some further limited consultation on those new draft statutory instruments during 2006;

• Our lawyers have been asked to advise on the structure of the Insolvent Companies (Disqualification of Unfit Directors) Proceedings Rules and The Insolvent Companies (Report on Conduct of Directors) Rules and whether those 2 statutory instruments might be merged under the consolidation project into 1 new statutory instrument;

•  Ideas proposed to consultees for modernisation and innovative change to the legislation, including facilitating greater provision of electronic access to insolvency information held by insolvency practitioners, and facilitating the transmission of insolvency documents electronically as an alternative to postal delivery were greeted enthusiastically and are being taken forward within the project. Consideration is also being given to removing the requirement for proofs and proxies to be signed;

• Removing obsolete provisions and duplication; 

• We are seeking views currently on an increase in the level of debt required to support a creditor's bankruptcy and winding up petition, given that the current £750 debt figure has not been changed since 1986;

• Suggestions have been accepted for some revision to prescribed insolvency forms and we propose to make all of the new prescribed insolvency forms available on The Insolvency Service website from October 2007.