§ Mr. CanavanTo ask the Secretary of State for Trade and Industry what plans he has to review the operation of company law in the matter of(a) frequency of registering accounts and (b) penalties for late registration of accounts in relation to (i) trading and (ii) non-trading companies. [91300]
§ Mr. Ian McCartneyThe periods allowed for delivering accounts to the Registrar of Companies will be reviewed as part of the fundamental review of company law, which the Department launched in March 1998. It is due to present its final report in the Spring of 2001. Separately, Companies House is reviewing whether the current penalty bands which apply to the late filing of accounts are having the maximum effect in encouraging compliance. The penalties apply equally to trading and non-trading companies.