The OFT will conduct a public consultation on this proposal once the Enterprise Bill – reforming bankruptcy and competition law – becomes law.
In its proposed guidance, the OFT’s maximum penalty would be a 15 year exemption from being a director of a company, acting as a receiver of company?s property or acting as an insolvency practitioner.
In addition, under a Competition Disqualification Orders a director found to breach competition law, would be personally liable for all of the relevant debts of the company.
Businesses and law firms are being invited to comment on the guidance to improve its clarity. Consultation will last for a maximum of 12 weeks and will end on 26 September 2002.
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements