{"id":61702,"date":"2015-09-18T09:50:11","date_gmt":"2015-09-18T09:50:11","guid":{"rendered":"http:\/\/mostafa.openonline.co.uk\/?guid=e87572fea22029920b816ce5e431f7ac"},"modified":"2015-09-18T09:50:11","modified_gmt":"2015-09-18T09:50:11","slug":"news-story-strengthening-the-company-director-disqualification-process","status":"publish","type":"post","link":"https:\/\/mostafa.openonline.co.uk\/?p=61702","title":{"rendered":"News story: Strengthening the company director disqualification process"},"content":{"rendered":"<div class=\"govspeak\">\n<p>A compensation process is also being introduced to provide better financial redress for the loss creditors have suffered as the result of the conduct of disqualified directors.<\/p>\n<p>The company director disqualification process is strengthened so that from 1 October 2015 the law states that the Secretary of State can seek to have a director of a limited company disqualified if they:<\/p>\n<ul>\n<li>have been convicted of a company related offence abroad<\/li>\n<li>influenced or instructed a director to behave in a way that has resulted in the disqualification of that director<\/li>\n<li>breach laws or regulations <\/li>\n<li>have a track record of being involved in failing companies<\/li>\n<\/ul>\n<p>The nature and extent of any harm and loss caused must also now be considered when deciding if disqualification is appropriate.<\/p>\n<p>The Secretary of State can, for unfit conduct occurring after 1 October 2015, use information from other regulators in disqualification proceedings.<\/p>\n<p>The maximum period of time elapsing between a company being declared insolvent and the Secretary of State seeking disqualification proceedings increases from 2 to 3 years.<\/p>\n<p>A disqualified director can in future be required by the Court to pay compensation to creditors who have lost out financially for unfit conduct that occurs after 1 October 2015.<\/p>\n<p>These changes follow the passage of the Small Business, Enterprise and Employment Act 2015 which received Royal Assent in March.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>New measures come into force on 1 October 2015 to provide a greater deterrent for company directors against acting improperly.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"_links":{"self":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/61702"}],"collection":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=61702"}],"version-history":[{"count":0,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/61702\/revisions"}],"wp:attachment":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=61702"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=61702"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=61702"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}