Insolvency Act 1986

Administration was first introduced in the Insolvency Act 1986 and has been amended by the Enterprise Act 2002. It is designed to allow a business to continue trading while plans are formed to either rescue it or to maximise the value of its assets.

The Insolvency Rules 1986 set out the detailed procedure for the conduct of all company and individual insolvency proceedings in England and Wales under the Insolvency Act 1986.