§ Mr. Jim CunninghamTo ask the President of the Board of Trade what assessment he has made of the National Audit Office's report in respect of the levels of rejection of private sector insolvency practitioners' reports. [27680]
§ Mr. Jonathan EvansThere is a significant proportion of cases where elements of unfit conduct have been identified by insolvency practitioners as well as by official receivers, but in relation to which, taking into account all the aspects of the insolvency, it is not in the public interest to institute proceedings under section 6 of the Company 371W Directors Disqualification Act 1986. There has been a discernible improvement in reporting by insolvency practitioners both in respect of completeness and timeliness and as a result of which the percentage not providing a basis for consideration of proceedings has fallen from 81 per cent. reported by the National Audit Office in October 1993 to 69 per cent. in 1994–95.