General Round-up - 12 Apr 2016

What has been happening in the market?

See below our general round-up of some key issues facing the market at the present time.

1. Update on nullifying restrictions on invoice assignment: the government has announced that it will seek to nullify any contractual term prohibiting the assignment of invoices (sometimes known as "ban on assignment clauses") through forthcoming regulations.  These remain in draft, and are not free from ambiguity, but indicate that the nullification will apply to contracts between businesses (not consumers) of all sizes (other than contracts for financial services or involving interests in land).  Only one of the businesses need carry on business in the UK, but the contract must be governed by English law.  When the regulations come in, they will not apply retrospectively.  As to current status, informal indications from BIS are that the regulations may be implemented this autumn (probably 1 October).  See our earlier update on this.