Companies House drops plans to dispose of company records

30.11.16 | |

 

The Government has confirmed that Companies House will not go ahead with plans to dispose of records of companies which are no longer in existence, in a move welcomed by campaigners for asbestos victims.

 

It was reported in August last year that Companies House was planning to destroy the records of companies that had been dissolved for longer than six years.  This change would have overturned their policy of retaining records for at least 20 years, with potential impact on the ability of claimants, such as asbestos victims, to pursue claims and wider implications for tackling corruption and corporate accountability.

 

The Parliamentary Under-Secretary, Department for Business, Energy and Industrial Strategy, Margot James MP, has now confirmed that the Registrar of Companies will ensure that there is no destruction of records, that the Government has no current plans to bring forward proposals to reduce the period of time that Companies House retains records of dissolved companies, and that any such future proposal would be subject to public consultation.

 

Kate Beattie acted for the Asbestos Victims Support Groups' Forum UK in the proposed challenge to the proposals, instructed by Harminder Bains at Leigh Day, together with Jeremy Hyam QC.

 

Further background on the case is available from Leigh Day, The Guardian and The Financial Times.  For press coverage of the Government's announcement, click here.

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