§ 45. Mr. Heddle
asked the Secretary of State for Trade and Industry whether he takes steps to monitor the extent to which former directors of companies that have gone into liquidation set up new companies.
§ Mr. Alexander Fletcher
So that this information shall be publicly available the Companies Acts require the Registrar of Companies to be informed of the liquidation of companies and of the appointment of directors. Under new powers taken in the Companies Act 1981 the registrar will also have to be notified of certain directorships formerly held by a company's present directors.
The Registrar of Companies has no responsibility to monitor changes in a company's board of directors.
Sir Kenneth Cork's report on insolvency law and practice, which I am studying, put forward certain recommendations to strengthen the law dealing with delinquent directors, particlarly those involved in a series of insolvencies.