Section 107 | Reports Of Office-Holders On Conduct Of Directors Of Insolvent Companies | Small Business Enterprise And Employment Act 2015 C26

107 Reports of office-holders on conduct of directors of insolvent companies

Small Business, Enterprise and Employment Act 2015 (2015 c 26) | Legislation

107 Reports of office-holders on conduct of directors of insolvent companies

(1) The Company Directors Disqualification Act 1986 is amended in accordance with subsections (2) to (4).

(2) After section 7 insert—

“7A Office-holder's report on conduct of directors

(1) The office-holder in respect of a company which is insolvent must prepare a report (a “conduct report”) about the conduct of each person who was a director of the company—

(a) on the insolvency date, or

(b) at any time during the period of 3 years ending with that date.

(2) For the purposes of this section a company is insolvent if—

(a) the company is in liquidation and at the time it went into liquidation its assets were insufficient for the payment of its debts and other liabilities and the expenses of the winding up,

(b) the company has entered administration, or

and subsection (1A) of section 6 applies for the purposes of this section as it applies for the purpose of that section.

(3) A conduct report must, in relation to each person, describe any conduct