The report also includes details of company incorporations, liquidations, investigations and prosecutions, and looks at the activities of Companies House and The Insolvency Service.
Company Law Developments
The report outlines the progress of the major review of core company law which the DTI launched in March 1998 and charts the progress of company law reform projects and EU activities.
Action Against Companies and Directors
As a result of action taken by The Insolvency Service, Companies House and the Department's Companies Investigations Branch, a total of 1,509 directors were disqualified in 1998-99.
Companies Investigations Branch (CIB), part of Company Law & Investigations Directorate, completed 228 company investigations and 21 investigations into insider dealing during the year.
Following earlier investigations by CIB, 42 companies were wound up in the public interest and 15 trials were brought to court.
There was an increase of 8% per cent in the effective register at Companies House: a total of 1,281,100 companies were registered at the year end, exceeding last year's previous highest ever figure of 1,184,900.
The monthly compliance rates for filing accounts and annual returns remained high at 95% per cent and 94% per cent respectively.
Offences of failing to file annual returns and accounts led to the conviction, in Great Britain, of 605 directors.
Copies of the report are available from the Stationary Office
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