Which year was the Personal Insolvency Act enacted?

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Multiple Choice

Which year was the Personal Insolvency Act enacted?

Explanation:
The year a law is enacted is when it receives formal assent and becomes law. The Personal Insolvency Act, which created new pathways for individuals to resolve debt and introduced mechanisms like debt relief options and personal insolvency practitioners, was enacted in 2012. While some sections later commenced and became operative in subsequent years, the legislative act itself was enacted in 2012.

The year a law is enacted is when it receives formal assent and becomes law. The Personal Insolvency Act, which created new pathways for individuals to resolve debt and introduced mechanisms like debt relief options and personal insolvency practitioners, was enacted in 2012. While some sections later commenced and became operative in subsequent years, the legislative act itself was enacted in 2012.

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