On 9 August 2015, Minister for Small Businesses Anna Soubry announced the Government’s intention to use its power under the Small Business, Enterprise and Employment Act 2015 to nullify ban on assignment clauses. The move has been taken in order to increase access to finance for small businesses. The Asset Based Finance Association and the National Federation for Small Businesses have spoken in support of the move.
The Government’s response to its consultation is accessible here.
For more detail on the consultation and work done by the project in this area, please see ourban on assignment clauses pages.