Hopes still high for liability reform

Link: Draft bill to make company prosecutions easier

The speech included reference to the draft company law reform bill, which is designed to make it easier for start-up companies, and will include the long-delayed recommendations of the independent Company Law Review.

A DTI spokeswoman said that the bill would still make a suitable legislative vehicle for proportionate liability ‘should a consensus be reached on the issue’.

Auditors are hopeful that the government will make a positive announcement on the liability issue early in the New Year.

The only stumbling block is the likelihood of a General Election in the summer, which, when called, would kill any bills going through parliament. Should this occur, a more finalised version of the bill would appear after the election, if Labour is returned to power.

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