HC Deb 16 November 1983 vol 48 cc467-8W
23. Mr. McCrindle

asked the Secretary of State for Trade and Industry if he will introduce legislation to remove limited liability from the directors of failed companies up to a period of three years from the date of liquidation or receivership of the company concerned.

Mr. Alexander Fletcher

The report of the insolvency law review committee contained a number of recommendations for dealing with the problem of directors of failed companies, including removal of limited liability. I think that it is important that proposals for insolvency law reform should be dealth with as a whole. I intend to issue a White Paper in the new year stating the Government's conclusions with a view to legislation as soon as possible thereafter.