The Rating (Coronavirus) and Directors Disqualification (Dissolved Companies) Bill received its first reading in the House of Commons today. A copy of the Bill, as introduced, is available here (pdf).
The accompanying explanatory notes - available here (pdf) - explain that the purpose of the Bill is to address "public concerns about the abuse of limited liability, by extending the powers of the Secretary of State and, in Northern Ireland, of the Department for the Economy to investigate the conduct of company directors to include former directors of dissolved companies, to commence disqualification proceedings against them where public interest criteria are met, and to seek compensation where their conduct has caused loss to creditors". Further information is also available in a press release from the Insolvency Service.
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