New Consultation from the Insolvency Service - Consultation on the withdrawal of the optional facility for liquidators in voluntary liquidations to bank with the Insolvency Services Account (“ISA”)

The Insolvency Service (IS) have published a new consultation on the withdrawal of the optional facility for liquidators in voluntary liquidations to bank with the Insolvency Services Account (“ISA”). The substantive questions for consultation are:

• 1. Does the optional facility for voluntary liquidators to use the ISA need to be retained? 
• 2. Would removal of the facility result in extra costs and if so what would these costs be? 

The deadline for consultation is Friday 17th December 2010.

Picture Credit: http://www.wga.hu/art/r/reymersw/banker_w.jpg