Aaah, it appears the rules have changed slightly
Under parliamentary rules, sitting MPs who are declared bankrupt do not have to step aside unless a more severe bankruptcy restrictions order is made against them, which can be imposed if the bankrupt refuses to cooperate with the process or is suspected of hiding assets.
www.theguardian.com/money/2022/dec/13/adam-afriyie-says-he-will-not-quit-as-conservative-mp-after-bankruptcy-order
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