Section 1 of the Small Business, Enterprise and Employment Act 2015 allows regulations to be made to invalidate clauses in certain contracts which prevent the assignment of receivables. The Business Contract Terms (Assignment of Receivables) Regulations 2017 have now been laid before Parliament for approval by resolution of each House of Parliament. It is expected that they will come into force in November or December 2017.
What types of contract does it apply to?
This question can be broken down into three issues: