These documents formed the basis of a consultation process that eventually lead to the publication of ODCE Decision Notice D/2002/1 - The Principal Duties and Powers of Companies, Company Directors, Company Secretaries, Members & Shareholders, Auditors, Creditors and Liquidators, Receivers & Examiners. Decision Notice D/2002/1.
I/2003/1: The Director today issued Information Notice I/2003/1 containing a List of Decisions made for Insolvent Companies in liquidation for which valid section 56 reports were submitted during 2002. The Information Notice lists 155 companies in respect of which the liquidator was relieved of an obligation to apply to the courts for a section 150 restriction order in respect of the directors of the insolvent companies. Such relief was granted where the ODCE was satisfied, on the basis of information provided by the liquidator or otherwise, that the directors of the insolvent company had acted honestly and responsibly in the conduct of the company's affairs. In a minority of decisions relief was granted "at this time" in cases where the ODCE was satisfied that the liquidator needed more time to investigate the circumstances giving rise to the company's demise. The Information Notice was issued as part of the ODCE's Public Notice Procedure relating to newly liquidated insolvent companies.