Powers to ban unfit dissolved company directors extended

The Insolvency Service is set to gain new powers for cracking down on directors who dissolve companies to avoid repaying government support monies.
Under new legislation, the Insolvency Service will be given powers to investigate directors of companies that have been dissolved, closing a legal loophole and acting as a deterrent against the misuse of the dissolution process.
The process will no longer be able to be used as a method of fraudulently avoiding repayment of government-backed loans given to businesses to support them during the coronavirus pandemic
Extension of the power to investigate also includes sanctions such as disqualification from acting as a company director for up to 15 years.

Related Keywords

United Kingdom ,London ,City Of ,Kwasi Kwarteng ,Insolvency Service ,Directors Disqualification Dissolved Companies ,Secretary Kwasi Kwarteng ,Directors Disqualification ,Dissolved Companies ,Bounce Back ,Business Kwasi Kwarteng ,Directors Disqualification Measure ,Bounce Back Loan , ,ஒன்றுபட்டது கிஂக்டம் ,லண்டன் ,நகரம் ஆஃப் ,நொடித்துப்போனது சேவை ,பவுன்ஸ் மீண்டும் ,பவுன்ஸ் மீண்டும் கடன் ,