A liquidators’ statutory functions when winding up a company are to secure and realise any assets, distribute any funds generated to those entitled to them and generally act in the interests of the company’s creditors. In carrying out their statutory functions, liquidators are also obliged to have regard to their regulatory standards and code of ethics. This may extend to resolving legal title and infrastructure issues affecting homeowners if doing so is in creditors’ interests.

The Grenfell Inquiry recommended that principal contractors wanting to work on higher-risk buildings should need a licence, which would be managed by the construction regulator. It also recommended that when applying for building control approval for these buildings, the principal contractor should include a personal undertaking from a company director or senior manager. We accept this and will work on creating a licensing system that works for the industry and the public.

We support stronger accountability and competence of principal contractors and are considering how to achieve this without creating unnecessary layers of regulation and barriers to the supply of new homes.

The Department for Business and Trade’s statutory guidance for the subsidy control regime helps public authorities to comply with the Subsidy Control Act 2022.

This includes subsidies given in the form of loans. We also provide additional guidance to public authorities on request. This would include discussions on below market rate and preferential loans. Where relevant thresholds are met, the Subsidy Advice Unit in the Competition and Markets Authority (CMA) is responsible for evaluating the relevant public authority’s assessment of compliance with subsidy control rules, and publishing a report of their findings. These can be found on the CMA’s website.