Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, what assessment his Department has made of the potential merits of the proposed regulatory framework to provide stakeholders greater assurance that a sale is appropriate set out in the Insolvency Service's Pre-pack sales in administration report, published on October 2020.

The Government has committed to strengthening the regulation of pre-pack sales in administration to connected persons. This was outlined in the report published 8 October 2020. The proposed regulatory framework, which was subject to stakeholder consultation, will strengthen the integrity of pre-pack sales by promoting greater transparency for creditors whilst ensuring that pre-pack sales remain a valuable rescue tool in the UK’s insolvency framework. The Government is preparing regulations to be laid as soon as Parliamentary time allows.