Can't see this being a positive thing. It joins a long queue of recent developments which aid fraud.
PLANS to change 'record' rules at Companies House risks giving culpable directors a "clean slate" to hide their activities, it was claimed today. The criticism came from Michael Neill, chairman of insolvency trade body R3 in Northern Ireland and partner at A&L Goodbody, Belfast, who said proposals to erase records of closed businesses after six years would hamper legitimate investigations. Records are currently held by Companies House for 20 years. The change has been made following complaints that information relating to long-dissolved companies being publicly available was inconsistent with data protection law. But Mr Neill believes such a change would be detrimental to the investigations undertaken by the insolvency profession, hindering their efforts to detect culpability by company directors and potentially impacting on the returns available for creditors.