As from 6th April, conduct reports completed by Office Holders in Liquidations and Administrations must be submitted within 3 months from the date of appointment (previously 6 months).
Reports are now to be filed electronically using a portal provided by the Insolvency Service, and whilst the time available to Office Holders to investigate a Director’s conduct is reduced, the level of information required to be submitted with the report has also lessened.
The changes are intended to streamline the reporting process for all parties concerned.