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Part 40E+W+S+N.I.Company directors: foreign disqualification etc

IntroductoryE+W+S+N.I.

1182Persons subject to foreign restrictionsE+W+S+N.I.

(1)This section defines what is meant by references in this Part to a person being subject to foreign restrictions.

(2)A person is subject to foreign restrictions if under the law of a country or territory outside the United Kingdom—

(a)he is, by reason of misconduct or unfitness, disqualified to any extent from acting in connection with the affairs of a company,

(b)he is, by reason of misconduct or unfitness, required—

(i)to obtain permission from a court or other authority, or

(ii)to meet any other condition,

before acting in connection with the affairs of a company, or

(c)he has, by reason of misconduct or unfitness, given undertakings to a court or other authority of a country or territory outside the United Kingdom—

(i)not to act in connection with the affairs of a company, or

(ii)restricting the extent to which, or the way in which, he may do so.

(3)The references in subsection (2) to acting in connection with the affairs of a company are to doing any of the following—

(a)being a director of a company,

(b)acting as receiver of a company's property, or

(c)being concerned or taking part in the promotion, formation or management of a company.

(4)In this section—

(a)company” means a company incorporated or formed under the law of the country or territory in question, and

(b)in relation to such a company—

1183Meaning of “the court” and “UK company”E+W+S+N.I.

In this Part—

Annotations:

Amendments (Textual)

F1Words in s. 1183 substituted (22.4.2014) by Crime and Courts Act 2013 (c. 22), s. 61(3), Sch. 9 para. 52; S.I. 2014/954, art. 2(c) (with art. 3) (with transitional provisions and savings in S.I. 2014/956, arts. 3-11)