The Bill was introduced by Baroness Deech and received its first reading in May 2016. 

 She explained that the purpose is to "... reform the law relating to the splitting of assets on divorce.  The current law ....has not been thoroughly debated by Parliament for 40 years despite quite radical changes in society and families".  

The proposed reforms include the introduction of binding pre-nuptial agreements.  

Source: Family Law Week - February 2017