The Act allows members of the House of Lords to retire or resign – actions previously constitutionally impossible for life peers.

[a] It also makes provision to exclude members who commit serious criminal offences resulting in a jail sentence of at least one year, and members who fail to attend the House for a whole session.

As of February 2025[update], 192 peers have resigned or retired, and a further 16 peers were removed under the Act's provisions regarding non-attendance.

Amongst other things, this Act provides for the right of peers to resign from the House of Lords, whilst keeping their title and style.

Section 4(5) states that those who have resigned or been removed from the House of Lords can stand or re-stand as MPs.