[F231 Disqualification of bankrupt [F1 or person in respect of whom a debt relief order is made] E+W+S
(1)A person commits an offence if he acts as receiver or manager of the property of a company on behalf of debenture holders while—
(a)he is an undischarged bankrupt,
[F3(aa)a moratorium period under a debt relief order applies in relation to him,] or
(b)a bankruptcy restrictions order [F4or a debt relief restrictions order] is in force in respect of him.
(2)A person guilty of an offence under subsection (1) shall be liable to imprisonment, a fine or both.
(3)This section does not apply to a receiver or manager acting under an appointment made by the court.]
Textual Amendments
F1S. 31: words in heading inserted (24.2.2009 for certain purposes otherwise 6.4.2009) by Tribunals, Courts and Enforcement Act 2007 (c. 15), ss. 108(3), 148(5), Sch. 20 para. 2(2); S.I. 2009/382, art. 2
F2S. 31 substituted (1.4.2004) by 2002 c. 40, ss. 257(3), 278, Sch. 21 para. 1 (with s. 249(6)); S.I. 2003/2093, art. 2(2), Sch. 2 (subject to arts. 3-8 (as amended by S.I. 2003/2332, art. 2))
F3S. 31(1)(aa) inserted (24.2.2009 for certain purposes otherwise 6.4.2009) by Tribunals, Courts and Enforcement Act 2007 (c. 15), ss. 108(3), 148(5), Sch. 20 para. 2(1)(a); S.I. 2009/382, art. 2
F4Words in s. 31(1)(b) inserted (24.2.2009 for certain purposes otherwise 6.4.2009) by Tribunals, Courts and Enforcement Act 2007 (c. 15), ss. 108(3), 148(5), Sch. 20 para. 2(1)(b); S.I. 2009/382, art. 2