Thursday, May 20, 2021
On 12 May 2021, the UK Government introduced the snappily titled Rating (Coronavirus) and Directors Disqualification (Dissolved Companies) Bill.
As the title of the bill suggests, it seeks to amend the applicability of the directors disqualification regime to directors of dissolved companies. A summary of the current regime is summarised inthisnote on directors duties in the context of companies that are (or may become) insolvent.
Currently, in order for the Insolvency Service to take disqualification action against directors of disqualified companies, they first need to make an application to Court to have the company restored. This time-consuming exercise delays the investigatory action, and is costly, with the …
Read the full article at: https://www.natlawreview.com/article/new-draft-uk-legislation-ability-to-disqualify-directors-dissolved-companies
