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Volume 268: debated on Thursday 7 December 1995

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To ask the President of the Board of Trade what is the policy of his Department in respect of making grants available to companies where directors have had previous bankruptcies. [2304]

[holding answer 27 November 1995]: Where a director of a company applying for a grant from the Department is known to have previously been bankrupt but is now discharged or has been given permission by the bankruptcy court to be a director, this would not automatically rule out acceptance of the grant application but it is a factor that would be taken into account in considering the viability and probity of the applicant company. Where a director was found to be an undischarged bankrupt who was not entitled to be a director of a company, this would be grounds for considering prosecution of the director and would be likely to lead to rejection of the company's grant application.