What are the main changes of the new Enterprise Act 2002?

The three main changes are:

• A limit of three years may be placed on the Trustee’s rights to realise equity in your home (this was previously open ended).
• Harsher penalties imposed on those who are considered to have brought about their bankruptcy through reckless or irresponsible behaviour. Restrictions after bankruptcy could last for a further two to fifteen years.
• In certain circumstances you may be discharged from bankruptcy after one year (previously the minimum was two years).