Independent report found foreign office-owned investment group gave millions to an Indian fund which invested in social media sites and a cosmetics company.
The Conservative MP for Fylde in Lancashire has relinquished the party whip as an investigation gets under way into claims made against him by an aide.
Policing minister Chris Philp said officers unfit to serve ’must be rooted out at the earliest opportunity,' with the changes due to come into effect on May 7.