Question to the Department for Business, Energy and Industrial Strategy:
To ask the Secretary of State for Business, Energy and Industrial Strategy, with reference to the Company Directors Disqualification Act 1986, if his Department and its associated agencies will make an assessment of whether Bob Diamond, former Chief Executive of Barclays Bank, is a fit and proper person to be a director of a UK-based company.
While the law does not impose a fit and proper person test on individuals seeking to be appointed as company directors, if there is evidence that a director has committed misconduct, disqualification action may be brought against them.
Such action is usually taken by the Insolvency Service, either following an investigation into a company’s failure as part of its formal insolvency, or following an investigation into an active company.