Leo Varadkar (Dublin West, Fine Gael) | Oireachtas source

The small company administrative rescue process, SCARP, received Government approval at the Cabinet meeting on Tuesday. It is intended to get the legislation into the Dáil and Seanad as soon as possible and to have the matter legislated for before the summer recess, thus allowing that option to be in place for small businesses that can survive if they are allowed to restructure. It is intended to have that in place by the autumn. It is, if you like, a personal insolvency regime for small companies and is an alternative to the expensive examinership process through the High Court. If we can get the legislation done by the recess, we can get it in place for the autumn.

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