Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

ACT definition

What does ACT mean? In corporate and banking practice, ACT usually refers to the Association of Corporate Treasurers, the UK-based professional body for corporate treasury professionals, rather than a statutory “Act”. It is not defined in legislation or case law; the acronym is market terminology used in transaction documents and governance materials. The Association of Corporate Treasurers promotes professional standards in liquidity management, funding, cash and risk management, foreign exchange and derivatives. It publishes guidance and a code of ethics and awards recognised qualifications (including AMCT and FCT). In legal contexts, references to “ACT-qualified” personnel or to ACT good practice may appear in treasury policies,...

Practical UK GDPR compliance for insolvency office-holders and their legal advisers: lawful bases, controller/processor roles, records, security, data subject rights, special category data, EU transfers and enforcement

Published by a LexisNexis Restructuring & Insolvency expert

Practice notes

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What is the UK GDPR?

The Assimilated Regulation (EU) 2016/679, known as the UK GDPR, governs the handling of personal data, aiming both to safeguard individuals and to enable the unhindered flow of such information. insolvency professionals handle personal data in their roles as partners, employees or consultants within their organisations, and also when acting as appointed office-holders. In each of these roles, they must comply with the UK GDPR. Accordingly, the regulation applies to them in both professional and office-holder capacities alike. This note offers a concise outline of the UK GDPR’s obligations, together with practical points for those working in insolvency. The professionals concerned include insolvency practitioners, legal advisers and other professional advisers (e.g. financial advisers). After IP completion day (at 1 pm (GMT) on 31 December 2020), the General data protection Regulation, Regulation (EU) 2016/679 (the EU GDPR), was carried over into domestic UK law as the “UK GDPR”. The UK GDPR is largely based on the EU GDPR and, in general, the terminology and core principles in the UK GDPR mirror those in the EU GDPR, though there are several important, detailed differences between the two frameworks...

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Patrick Elliot

Keystone Law

Patrick heads up Cubism's Corporate Recovery and Insolvency group. He has over 10 years' experience of working in CRI and almost 20 years' experience as a litigator advising on commercial, financial, intellectual property and data privacy matters. His work encompasses formal processes - administrations, liquidations, voluntary arrangements - and their interaction with Chapter 11 and international legislation; litigation arising from insolvency ' undoing antecedent transactions, tracing assets and enforcement; and advising insolvent businesses, their boards and individuals. Patrick has regularly acted for the creditors of failed institutional, financial and professional services businesses and his work has included numerous cross-border matters. He has significant experience of advising on EU and International insolvency legislation and has successfully taken a leading case on international enforcement to the Supreme Court. Selected key work has included advising multiple creditors of Lehman; Eurofinance in Rubin v...

Web page updated on 21/05/2026

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