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Bankruptcy Law

Volume 887: debated on Monday 24 February 1975

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asked the Secretary of State for Trade if he will make a statement about his proposals for changes in the bankruptcy laws.

They include the giving of a power to the Secretary of State for Trade to restore the value of monetary limits; a provision enabling the bankruptcy courts to carry out an automatic review of bankruptcies after five years have elapsed with a view to discharge; the strengthening of the administration order procedure under the County Courts Act 1959; the simplification of the requirements in bankruptcy and companies liquidation for a creditor making his claim and an extension of the grounds for seeking an order disqualifying directors of failed companies from so acting again. I am not at present able to say when it will be possible to introduce such legislation.