Northern Ireland Insolvency (Amendment) Bill

IPA Insolvency Practitioner newsletter, April 2026

On 24 March 2026, the Insolvency (Amendment) Bill (Bill) passed its Final Stage in the Northern Ireland Assembly but is not yet fully in force. Following the Assembly’s approval, the draft Bill is awaiting Royal Assent. Once it receives Royal Assent, it will officially become an Act.

This legislation updates Northern Ireland’s insolvency framework to align with Great Britain, aiming to increase consistency and bolster investor confidence. The draft Bill includes measures to assist companies in financial difficulty.

Key changes include:

• Electronic communication: Permits electronic notices and websites for sharing documents
• Meetings: Removes the requirement for annual meetings in voluntary liquidations
• Creditor protection: Eases restrictions for banks regarding accounts for undischarged bankrupts
• Insolvency Practitioners: Authorisation will be handled by professional bodies rather than the Department