Cabinet nod to gazette Bill on Rescue, Rehabilitation, and Insolvency

The Cabinet of Ministers on Monday approved the publication of the Bill on Rescue, Rehabilitation and Insolvency in the Government Gazette and to submit the same for Parliamentary approval.

The move comes following the clearance from the Attorney General to draft the said Bill. 

On 22 May 2023, the Cabinet approved the introduction of a new law that includes the necessary provisions on rescue, rehabilitation and insolvency.

The joint proposal, presented by the President and Justice, Prisons Affairs and Constitutional Reforms Minister was approved by the Cabinet of Ministers.