The objects and reasons of this Bill are to update the provisions of Part III of the Commercial Code, Cap.13 principally by substituting the nomenclature of "curator" by that of "bankruptcy trustee", and to substitute certain provisions thereof. In order to extend the competence of the Civil Court (Commercial Section). Also to strengthen the existing legal framework on bankruptcy and discharge of debt and to partially transpose certain provisions of Directive (EU) 2019/1023 of the European Parliament and of the Council of 20 June 2019 on preventive restructuring frameworks, on discharge of debt and disqualifications, and on measures to increase the efficiency of procedures concerning restructuring, insolvency and discharge of debt, and amending Directive (EU) 2017/1132 (Directive on restructuring and insolvency).