{"id":5082,"date":"2022-01-06T04:00:00","date_gmt":"2022-01-06T04:00:00","guid":{"rendered":"http:\/\/im-22984"},"modified":"2023-01-11T11:13:21","modified_gmt":"2023-01-11T11:13:21","slug":"new-powers-for-insolvency-service","status":"publish","type":"post","link":"https:\/\/www.oneaccounting.co.uk\/new-powers-for-insolvency-service\/","title":{"rendered":"New powers for Insolvency Service"},"content":{"rendered":"<p>The Insolvency Service is a government agency that provides services to those affected by financial distress or failure. The Insolvency Service operates as an executive agency of the Department of Business, Energy and Industrial Strategy (BEIS).&nbsp;<\/p>\n<p>The Insolvency Service has been granted new powers to investigate and disqualify company directors who abuse the company dissolution process. This extends investigatory powers to directors of dissolved companies and if misconduct is found, directors can face sanctions including being disqualified as a company director for up to 15 years or, in the most serious of cases, prosecution. The measures have been introduced under a new Act that received Royal Assent on 15 December 2021.<\/p>\n<p>The Act will also mean the Business Secretary is able to apply to the court for an order to require a former director of a dissolved company, who has been disqualified, to pay compensation to creditors who have lost out due to their fraudulent behaviour.<\/p>\n<div style='font-size:smaller' class='im_source'>Source: Other   Tue, 04 Jan 2022 00:00:00 +0100<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Insolvency Service is a government agency that<\/p>\n","protected":false},"author":1,"featured_media":5083,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,1],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>New powers for Insolvency Service - One Accounting<\/title>\n<meta name=\"description\" content=\"The Insolvency Service is a government agency that\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.oneaccounting.co.uk\/new-powers-for-insolvency-service\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New powers for Insolvency Service - One Accounting\" \/>\n<meta property=\"og:description\" content=\"The Insolvency Service is a government agency that\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.oneaccounting.co.uk\/new-powers-for-insolvency-service\/\" \/>\n<meta property=\"og:site_name\" content=\"One Accounting\" \/>\n<meta property=\"article:published_time\" content=\"2022-01-06T04:00:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-01-11T11:13:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.oneaccounting.co.uk\/wp-content\/uploads\/2022\/01\/00995e58-f995-418b-8349-a32264ff1ac0.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"533\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.oneaccounting.co.uk\/new-powers-for-insolvency-service\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.oneaccounting.co.uk\/new-powers-for-insolvency-service\/\"},\"author\":{\"name\":\"Admin\",\"@id\":\"https:\/\/www.oneaccounting.co.uk\/#\/schema\/person\/846d7ee0fcbd148e3fd1aa38300917d3\"},\"headline\":\"New powers for Insolvency Service\",\"datePublished\":\"2022-01-06T04:00:00+00:00\",\"dateModified\":\"2023-01-11T11:13:21+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.oneaccounting.co.uk\/new-powers-for-insolvency-service\/\"},\"wordCount\":163,\"publisher\":{\"@id\":\"https:\/\/www.oneaccounting.co.uk\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.oneaccounting.co.uk\/new-powers-for-insolvency-service\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.oneaccounting.co.uk\/wp-content\/uploads\/2022\/01\/00995e58-f995-418b-8349-a32264ff1ac0.jpg\",\"articleSection\":[\"Corporate Governance &amp; 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