Companies Investigation Branch
Encyclopedia
Companies Investigation Branch (or CIB) is part of the UK's
Department for Business, Enterprise and Regulatory Reform
.
Headed by the Inspector of Companies, CIB exercises on behalf of the Secretary of State for Business, Enterprise and Regulatory Reform the statutory powers of enquiry under the Companies Act 1985
and other legislation. These powers are exercisable throughout Great Britain
, but not in Northern Ireland
. Information obtained can be passed to other regulators for action; can result in the courts being petitioned to wind up the company; can result in an application being made to the courts for individuals to be disqualified from acting as a director of, or in the management of, a company, or can be used in a criminal prosecution of a company or its officers.
Civil servants within CIB itself carry out most investigations, although occasionally qualified individuals in the private sector are used - usually as a means of dealing with varying work loads, but sometimes because special expertise is required.
On 1 April 2006 CIB became part of the Insolvency Service, an Executive Agency of the Department of Trade and Industry, though its functions are unchanged.
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
Department for Business, Enterprise and Regulatory Reform
Department for Business, Enterprise and Regulatory Reform
The Department for Business, Enterprise and Regulatory Reform was a United Kingdom government department. The department was created on 28 June 2007 on the disbanding of the Department of Trade and Industry , and was itself disbanded on 6 June 2009 on the creation of the Department for Business,...
.
Headed by the Inspector of Companies, CIB exercises on behalf of the Secretary of State for Business, Enterprise and Regulatory Reform the statutory powers of enquiry under the Companies Act 1985
Companies Act 1985
The Companies Act 1985 is an Act of the Parliament of the United Kingdom of Great Britain and Northern Ireland, enacted in 1985, which enabled companies to be formed by registration, and set out the responsibilities of companies, their directors and secretaries.The Act was a consolidation of...
and other legislation. These powers are exercisable throughout Great Britain
Great Britain
Great Britain or Britain is an island situated to the northwest of Continental Europe. It is the ninth largest island in the world, and the largest European island, as well as the largest of the British Isles...
, but not in Northern Ireland
Northern Ireland
Northern Ireland is one of the four countries of the United Kingdom. Situated in the north-east of the island of Ireland, it shares a border with the Republic of Ireland to the south and west...
. Information obtained can be passed to other regulators for action; can result in the courts being petitioned to wind up the company; can result in an application being made to the courts for individuals to be disqualified from acting as a director of, or in the management of, a company, or can be used in a criminal prosecution of a company or its officers.
Civil servants within CIB itself carry out most investigations, although occasionally qualified individuals in the private sector are used - usually as a means of dealing with varying work loads, but sometimes because special expertise is required.
On 1 April 2006 CIB became part of the Insolvency Service, an Executive Agency of the Department of Trade and Industry, though its functions are unchanged.