Cap. 632 Art. 1Short title and scope.

(1) The short title of this Act is the Insolvency

Practitioners Act.

(2) The scope of this Act is to provide for a modern framework to strengthen the efficiency and effectiveness of the existing legislative framework relating to insolvency through regulation of the activities of insolvency practitioners, and to partially transpose Directive (EU) 2019/1023 of the European Parliament and of the Council of 20 June 2019 on preventive restructuring frameworks, on discharge of debt and disqualifications, and on measures to increase the efficiency of procedures concerning restructuring, insolvency and discharge of debt, and amending Directive (EU) 2017/1132 (Directive on restructuring and insolvency).