This paper collates data on the number of applications and total support provided under the UK Government coronavirus business support schemes. The attached excel spreadsheet allows users to view data by Parliamentary constituency.
Documents to download
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Company insolvency: potential liabilities of directors (2 MB, PDF)
Directors manage the day-to-day management of a company; decisions are taken collectively by the board of directors. In practice, decisions are either taken by a majority vote at board meetings or by all directors signing a written resolution. The director’s role and his powers are defined in the company’s Articles of Association and, if he is also an employee, in his employment contract.
Certain key duties of directors are contained in the Companies Act 2006. Directors are also subject to a number of other statutory requirements and restrictions, for example, a duty to keep proper books and restrictions on accepting loans from the company. Directors owe a duty to the company and, if there is a risk of insolvency, to creditors. It is important to note that whilst certain provisions of the the Insolvency Act 1986 only apply when a company has gone into liquidation, they may relate to the conduct of the directors before the liquidation.
This Commons briefing paper provides a brief overview of directors’ duties and potential liabilities in relation to companies in financial difficulty. In particular, it looks at liability for wrongful and fraudulent trading and under the directors disqualification regime. The information contained in this briefing paper, and corporate insolvency legislation generally, applies to England and Wales, and Scotland.
Documents to download
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Company insolvency: potential liabilities of directors (2 MB, PDF)
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The National Security and Investment Bill 2019-21 was announced in the Queen’s Speech on 19 December 2019. It was introduced in the House of Commons on 11 November 2020. Its Second Reading took place on 17 November 2020, with remaining stages scheduled for Wednesday 20 January 2021.
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An overview of initiatives to support businesses through the coronavirus pandemic.