Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, if he will exercise his powers under the Companies Act 2006 to wind up Business Bank Italy Limited.

Unless it is already in voluntary liquidation, a company may only be wound up by a petition to the Court. There are no provisions in the Companies Act 2006 for the Secretary of State for Business, Energy & Industrial Strategy to present a petition to wind a company up; these are contained in the Insolvency Act 1986.

The Secretary of State for Business, Energy & Industrial Strategy may present a petition, as provided in the Insolvency Act 1986 only if he decides it is in the public interest to do so, having considered a report of information obtained by a statutory investigation into the company's affairs. I am not currently aware of any ongoing investigation into Business Bank Italy Limited.