Disqualification At The Discretion of The Court
The court may make a disqualification order where:
-
- the person is convicted of an indictable offence (whether on indictment or summarily) in connection with the promotion, formation, management, liquidation or striking off of a company with the receivership of a company’s property or with his being an administrative receiver of a company.(s. 2)
- it appears to the court that he has been persistently in default in relation to provisions of the companies legislation requiring any return, account or other document to be filed with, delivered or sent, or notice of any matter to be given, to the registrar of companies.(s. 3)
- in the course of the winding up of a company, it appears that he—
- (a) has been guilty of an offence for which he is liable (whether he has been convicted or not) under s. 458 of the Companies Act 1985 (fraudulent trading), or
- (b) has otherwise been guilty, while an officer or liquidator of the company receiver of the company’s property or administrative receiver of the company, of any fraud in relation to the company or of any breach of his duty as such officer, liquidator, receiver or administrative receiver.(s. 4)
- a person is convicted (either on indictment or summarily) in consequence of a contravention of, or failure to comply with, any provision of the companies legislation requiring a return, account or other document to be filed with, delivered or sent, or notice of any matter to be given, to the registrar of companies (whether the contravention or failure is on the person’s own part or on the part of any company).(s. 5)
The maximum period of the order is 15 years under ss, 2 and 4, and 5 years under ss. 3 and 5.
The court may also make an order for a period of up to 15 years where a person has participated in wrongful trading.(s. 10)
Read more about this topic: Company Directors Disqualification Act 1986
Famous quotes containing the words discretion and/or court:
“All earthly things is but vanity:
Beauty, Strength, and Discretion do man forsake,
Foolish friends and kinsmen, that fair spake—
All fleeth save Good Deeds, and that am I.”
—Unknown. Everyman (l. 870–873)
“Rome, like Washington, is small enough, quiet enough, for strong personal intimacies; Rome, like Washington, has its democratic court and its entourage of diplomatic circle; Rome, like Washington, gives you plenty of time and plenty of sunlight. In New York we have annihilated both.”
—M. E. W. Sherwood (1826–1903)