Insolvency Act 2000

5 Disqualification orders. E+W+S

(1) In section 1 of the M1 Company Directors Disqualification Act 1986 (disqualification orders: general), in subsection (1), for the words following “an order that” there is substituted “for a period specified in the order—

(a) he shall 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 the court, and

(b) he shall not act as an insolvency practitioner.”

(2) At the end of subsection (2) of that section there is inserted “ and, unless the court otherwise orders, the period of disqualification so imposed shall begin at the end of the period of 21 days beginning with the date of the order ”.

(3) In section 22 of that Act (interpretation), at the end there is inserted—

“(10) Any reference to acting as receiver—

(a) includes acting as manager or as both receiver and manager, but

(b) does not include acting as administrative receiver;

and “receivership” is to be read accordingly.”

Commencement Information

I1 S. 5 wholly in force at 2.4.2001, see s. 16(1) and S.I. 2001/766, art. 2(1)(a) (subject to art. 3)

Marginal Citations

M1 1986 c. 46.