In 2003, the Enterprise Act ("the Act") was enshrined into law. The main purpose of the Act was to promote fairness in mergers and market structures and to make certain anti-competitive behaviors an offence.

In this context, part of the Act amended the insolvency legislation that had existed since 1986 and effectively called time on the process known as "administrative receivership." The rationale being when appointed as a receiver, the insolvency practitioner has a primary duty of care to the appointing secured creditor, and that, in turn, may not result in the best outcome for the general body of creditors.