Consideration of Bill, as amended in the Public Bill Committee
[Relevant documents: the Eleventh Report of the Treasury Committee of Session 2021-22, Economic crime, HC 145, and the Government Response, Session 2021-22, HC 1261; the oral evidence taken before the Business, Energy and Industrial Strategy Committee on 8 November 2022, on Fraudulent company registrations: Economic Crime and Corporate Transparency Bill, HC 862; the letter from UK Finance to the Chair of the Business, Energy and Industrial Strategy Committee relating to Fraudulent company registrations and the Economic Crime and Corporate Transparency Bill, dated 21 December 2022; and the letter from the Minister for Business, Energy and Corporate Responsibility to the Chair of the Business, Energy and Industrial Strategy Committee relating to the Economic Crime and Corporate Transparency Bill, dated 28 December 2022.]
New Clause 8
Disqualification for persistent breaches of companies legislation: GB
“(1) Section 3 of the Company Directors Disqualification Act 1986 (disqualification for persistent breaches of companies legislation) is amended as follows.
(2) In subsection (1), for the words from ‘provisions of the companies legislation’ to the end substitute ‘relevant provisions of the companies legislation (see subsection (3B))’.
(3) In subsection (2), for ‘such provisions as are mentioned above’ substitute ‘relevant provisions of the companies legislation’.
(4) In subsection (3)—
(a) for ‘provision of that legislation’ substitute ‘such provision’;
(b) after paragraph (a) (but before the ‘or’ at the end of that paragraph) insert—
‘(aa) a financial penalty is imposed on the person in respect of such an offence by virtue of regulations under—
section 1132A of the Companies Act 2006, or
section 39 of the Economic Crime (Transparency and Enforcement) Act 2022,’
(5) After subsection (3A) insert—
‘(3B) In this section “relevant provisions of the companies legislation” means—
(a) any provision of the companies legislation requiring any return, account or other document to be filed with, delivered or sent, or notice of any matter to be given, to the registrar of companies,
(b) sections 167M and 167N of the Companies Act 2006 (prohibitions on acting as director where identity not verified or where there has been a failure to notify a directorship), and
(c) sections 790LM and 790LN of the Companies Act 2006 (persons with significant control: ongoing duties in relation to identity verification).’