New Businesses

Department for Business and Trade written question – answered am ar 26 Chwefror 2024.

Danfonwch hysbysiad imi am ddadleuon fel hyn

Photo of Scott Benton Scott Benton Annibynnol, Blackpool South

To ask the Secretary of State for Business and Trade, whether her Department plans to implement financial safeguards to prevent individuals who have previously mismanaged businesses from establishing limited companies.

Photo of Kevin Hollinrake Kevin Hollinrake Parliamentary Under Secretary of State (Department for Business and Trade)

The Insolvency Service takes robust enforcement action against directors where there is evidence of unfit conduct and will bring disqualification proceedings where in the public interest.

The Economic Crime and Corporate Transparency Act 2023 will further strengthen these safeguards. Individuals who are disqualified under director disqualification legislation will be prohibited from being appointed as a director and their existing directorships will become void. The Act also extends the grounds for making a director disqualification order so that individuals who persistently breach new identity verification or filing requirements may face disqualification.

Does this answer the above question?

Yes0 people think so

No0 people think not

Would you like to ask a question like this yourself? Use our Freedom of Information site.