Tighten Regulations on Company Formations & Liquidations

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Tighten Regulations on Company Formations & Liquidations

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We request a tightening of legislation governing the formation and liquidation of limited liability companies. To ensure that company directors and secretaries against whom complaints have been made to Trading Standards or legal court proceedings taken, cannot set up a new company in the same industry within a given period of time. Further, to limit the number of franchises within the same group that a director or sectetary may oversee in order to prevent such companies using the guise of a "National" company whilst using their franchises in a manner such as to shirk responsibility to their customers and deny liability.

The overall scope of this petition is to prevent unscrupulous "Rogue Traders" from leaving customers out of pocket and with no recourse whilst they set up a new company that has a clean record.

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