Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, what estimate he has made of the amount recouped to creditors other than HMRC through Compensation Orders made against directors disqualified under the powers of the Rating and Director Disqualification Act 2021 to date.

The Rating and Director Disqualifications Act came into force on 15^th December 2021 and gave the Insolvency Service, on behalf of the Secretary of State, the power to seek, where appropriate, disqualification and compensation orders against directors of dissolved companies.

As at 20^th October 2022, the Insolvency Service has authorised disqualification and compensation order proceedings against 16 directors which are yet to be determined.

The Insolvency Service has not to date obtained a compensation order or undertaking pursuant to the aforementioned statutory power.