Safer than ever

Article Abstract:

The key general product safety regulations included in the UK's Consumer Protection Act 1987 have been replaced and broadened by the General Product Safety Regulations 1994. The new law, which enforces an EC directive, requires manufacturers and distributors of consumer goods to develop adequate product recall procedures and to adopt internal systems that are capable of supplying consumers with the necessary product information. Such information should include the potential risks posed by the product and the precautions that should be taken to avoid these risks. Regulation 7 states that products can only be launched in the market if they are deemed safe in terms of their characteristics, their impact on other products, their presentation and their effects on various consumer categories. Regulations 8 to 15 are also discussed.

Regulation, Licensing, and Inspection of Miscellaneous Commercial Sectors, Product Safety Regulation NEC, Consumer protection, Product safety, Safety regulations

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When a firm collapses

Article Abstract:

The provisions and revised provisions of the Insolvency Act 1986 that cover insolvent partnershipsare specified in the Insolvent Partnerships Order 1986 (SI 1986/2142). The Order discusses procedures that may need to be applied upon a partnership's financial collapse, including winding up the firm only (Article 7), winding up the firm with concurrent petitions to its bankrupt partners (Article 8), and bankruptcy petitions against individual partners only (Articles 13 and 14). TheInsolvency Act, in Section 252, provides a simpler alternative to the highly complicated procedures set forth in the 1986 Order. Sec 252 describes a procedure which individual debtors, including partners, may use to come to an agreement with their unsecured creditors regarding the payment of their debts over a period of time.

Bankruptcy law, Partnership, Partnerships, Business failures

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Law

Article Abstract:

A number of short articles are presented concerning the important legal issues affecting accountants which have been brought into force in 2001. These include new laws and statutory instruments.

Interpretation and construction, Law

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