Hope there's no loopholes - e.g. transfer of assets to spouse
That is a loophole they could use, but not without risk. If spouse tranfers them to tennis coach and elopes, you're screwed. There's other loopholes too, such as using offshore people as directors where they're beyond the reach of our legal system.
Fining the directors is a good idea, but I don't think it'll achieve a drop off in calls.