This Act makes it easier for struggling UK companies to reorganise their finances and avoid going into insolvency (bankruptcy). It introduced new tools like allowing businesses more time to negotiate with creditors and introduced measures to protect company directors during financial difficulties.
How every MP voted on The Corporate Insolvency and Governance Act 2020 (Coronavirus) (Extension of the Relevant Period) Regulations 2020, 21 October 2020 | Open Govt