Enterprise Act 2016

Overview of the Act

Reproduced verbatim from the Explanatory Notes published with the Act on legislation.gov.uk (Crown Copyright, Open Government Licence v3.0). Explanatory Notes are prepared by the responsible government department and are not part of the Act.

The Act deals with a range of Government commitments which are intended to support the growth of enterprise in the United Kingdom. The Act: establishes a Small Business Commissioner, to enable small businesses to resolve disputes with larger businesses and avoid future issues; expands the deregulation target to include regulators; requires regulators subject to the duty to have regard to the Regulators' Code and/or the Growth Duty to report on the effect these duties have had on the way they exercise the functions to which these duties apply; extends the Primary Authority scheme to make it easier for more businesses to join; protects the term apprenticeship in law, with a view to ensuring that apprentices have access to high quality training; gives powers to set targets for apprentice numbers in the public sector; requires insurers to pay insurance claims within a reasonable time; reforms the business rates appeals system and reduces the burdens for businesses when dealing with local authorities in relation to business rates; extends the rights of shop workers working on Sundays; simplifies and updates the Industrial Development Act 1982; repeals some of the legislation relating to the Green Investment Bank in order to allow it to be classified as in the private sector; includes provisions concerning the pubs code.

The Act gives the Treasury, Scottish Ministers and Welsh Ministers powers to make regulations to restrict public sector exit payments. The Act also gives the Treasury or the Secretary of State a power to provide financial assistance or make other payments to UK Government Investments Limited.