§ 16. Mr. Hanleyasked the Secretary of State for Trade and Industry if he will make a statement on the timing of legislation covering the activities of delinquent company directors.
§ Mr. FletcherThe Government's intention is to introduce legislation on insolvency law reform in the next session of Parliament. Our proposals in the White Paper published in February have met with general approval but there will be some modifications in the light of comments received. Most of these are of a technical nature and the most important concerns the automatic disqualification of directors, where we have decided to allow a reasonable period for directors to present a defence to the Court. I have arranged for details of the main modifications to be placed in the Library of the House today.