Insolvency Service Executive Agency (Hansard, 15 July 1993)

§ Mr. Sainsbury

I have set the Insolvency Service the target of sustaining as far as possible the level of productivity in case administration which it achieved in 1992–93. I shall continue to expect it to bring proceedings for the disqualification of directors of failed companies where these are in the public interest and the submission of prosecution reports where there is evidence of criminal behaviour.

In addition, I have set the service the following quality of service targets for 1993–94:

to report to creditors on assets and liabilities within nine weeks in at least 75 per cent. of all cases;
to hold the initial meeting of creditors within 12 weeks in at least 80 per cent. of all cases;
to check and action at least 95 per cent. of payment requisitions within 10 days or by the due date;
to submit reports within 10 months in at least 80 per cent. of cases where there is evidence of criminality;
to submit disqualification reports within 15 months in at least 80 per cent. of cases where there is evidence of unfit conduct by directors.

These are based on an assumption of 40,000 new cases and the completion of 28,000 cases in 1993–94.

In addition, I have set the chief executive of the service the targets of replying within 10 working days to letters from Members of Parliament delegated to him for reply, and producing commercial-style accounts for 1993–94, which will form the basis for the preparation of auditable accounts.