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AI Summary of 1A. Disqualification undertakings: general

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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 22 February 2024 - onwards
Version 3 of 3

1A. Disqualification undertakings: general

(1) In the circumstances specified in sections 5A, 7, 8, 8ZC, 8ZE, 8ZF and 8ZG the appropriate authority may accept a disqualification undertaking, that is to say an undertaking by any person that, for a period specified in the undertaking, the person -

(a) will not be a director of a company, act as receiver of a company's property or in any way, whether directly or indirectly, be concerned or take part in the promotion, formation or management of a company unless (in each case) he has the leave of a court, and

(b) will not act as an insolvency practitioner.

(2) The maximum period which may be specified in a disqualification undertaking is 15 years; and the minimum period which may be specified in a disqualification undertaking under section 7, 8ZC or 8ZF is two years.

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