Question

To ask the Secretary of State for Business, Innovation and Skills, whether the Insolvency Service plans to conduct any inquiries under sections 432 or 447 of the Companies Act 1985 in the next six months.

For the financial year 2014-15 The Insolvency Service anticipates conducting between 140 and 160 investigations under section 447 Companies Act 1985. This is part of the normal function of the Insolvency Service so I can confirm that investigations will be conducted using this power in the next six months, though it is not possible to say how many.

The circumstances giving rise to an investigation using section 432 Companies Act 1985 are much less common, and I cannot at present state whether any such investigations will be commenced within the next six months.