Powers to ban unfit dissolved company directors extended

Under new legislation, the Insolvency Service will have the power to investigate directors who dissolve companies to avoid repaying government support monies.

The extension of power to investigate also includes sanctions such as disqualification from acting as a company director for up to 15 years. These powers will be exercised by the Insolvency Service on behalf of the Business Secretary.

This new measure is designed to also help prevent directors of dissolved companies from setting up near-identical businesses after the dissolution, which often leaves customers and other creditors unpaid.

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