§ 1985. Mr. Jon Owen JonesTo ask the President of the Board of Trade how many investigations are currently being carried out by the Insolvency Service; and how many were carried out during(a) 1980 and (b)
§ Mr. Neil HamiltonUnder the Insolvency Act 1986 the Official Receiver has a duty to investigate the affairs of each company wound up by the courts and the conduct and affairs of every bankrupt except where an order for summary administration has been made.
There were 6,910 winding-up and receiving orders made in 1980 and 12,477 made in 1985. In 1993 there were 8,361 winding-up orders and 31,025 bankruptcy orders including 5,357 summary cases.
§ 28. Mr. WicksTo ask the President of the Board of Trade if he will make a statement on Government policy towards insolvency.
§ Mr. Neil HamiltonThe Government believe that it is important to have a civilised, orderly and equitable method for dealing with financial failure of individuals and businesses and for tackling fraud and malpractice where they occur. The insolvency legislation seeks to achieve this end. It is kept under continual review.