UK Offence Report

The Insolvent Companies (Reports on Conduct of Directors) (England and Wales) Rules 2016

UK Statutory Instrument 2016 No. 180 — creates 1 criminal offence.

1offences created
0recorded in force
0revoked
Made
11 February 2016
In force from
6 April 2016
Extent
Not stated
Subject
Corporate, financial services, company law, employment, charity, electoral and tax
Made under
Company Directors Disqualification Act 1986, Insolvency Act 1986

Explanatory note

(This note is not part of the Rules) — published with the instrument by the department that made it. © Crown copyright, reused under the Open Government Licence v3.0.

These Rules revoke and replace the Insolvent Companies (Reports on Conduct of Directors) Rules (S.I. 1996/1909) subject to transitional and saving provisions. These Rules make provision in England and Wales for the manner in which an office-holder is to prepare and send a conduct report, under section 7A of the Company Directors Disqualification Act 1986 (c.46) (“the Act”), about the conduct of each person who was a director of an insolvent company in the 3 years before the insolvency. Rule 3 enables the Secretary of State or official receiver to apply for a court order to enforce a requirement under section 7(4) of the Act. Rules 4 to 6 provide for the manner in which an office-holder is to comply with obligations in section 7A of the Act. Rule 7 makes provision for circumstances where the portal is unavailable. Rule 8 provides that an office-holder is guilty of an offence if the office-holder fails (without reasonable excuse) to send to the Secretary of State— the conduct report, before the end of 3 months beginning with the insolvency date, or such longer period as the Secretary of State considers appropriate, or if applicable, new information as soon as reasonably practicable. Rule 9 requires the Secretary of State to review the operation and effect of these Rules and publish a report within 5 years after the Rule comes into force and within every 5 years after that. Following a review it will fall to the Secretary of State to consider whether these Rules should remain as they are, or be revoked or be amended. A further instrument would be needed to revoke the Rules or to amend them. Rule 10 provides transitional and saving provisions. An impact assessment of the effect that this instrument will have on the costs of business is available from The Insolvency Service, 4 Abbey Orchard Street, London SW1P 2HT and is published with the Explanatory Memorandum alongside the instrument on www.legislation.gov.uk .

Offences created by this instrument

What Parliament said about it

Hansard was searched for this instrument by name and returned nothing. That is the ordinary outcome: an instrument laid under the negative procedure is usually never debated, and becomes law without a word said about it in either House.

How Parliament handled it

Parliament's Statutory Instruments service records procedure from May 2017 onwards, and this instrument predates it. That is a limit of the source, not a statement that nothing happened.

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