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Company Law

Question for Department for Business, Energy and Industrial Strategy

UIN HL3228, tabled on 20 October 2021

To ask Her Majesty's Government, further to their response to the consultation on Insolvency and Corporate Governance, published on 26 August 2018, what plans they have to bring forward further measures in addition to the Rating (Coronavirus) Bill and Directors Disqualification (Dissolved Companies) Bill regarding (1) group companies, (2) shareholder stewardship, (3) directors duties, (4) the payment of dividends, and (5) creditor protection.

Answered on

2 November 2021

It remains the Government’s intention to implement the insolvency and director disqualification measures announced in 2018 as soon as parliamentary time allows.

The Government’s latest plans for improving corporate governance are set out in the White Paper, Restoring Trust in Audit and Corporate Governance published on 18 March 2021. This sets out a wide range of proposals, including options for strengthening boardroom accountability for effective internal control systems and proposals to give the regulator new enforcement powers relating to breaches of directors’ statutory duties relating to corporate reporting and audit. The White Paper also sets out proposals for strengthening the law on dividends and capital maintenance. The Government is considering responses to the White Paper and will publish its final plans in due course.