SCHEDULES

C1C2SCHEDULE 1 Matters for Determining Unfitness of Directors

Annotations:
Modifications etc. (not altering text)
C1

Sch. 1 extended (with modifications) by S.I. 1986/2142, art. 6

C2

Sch. 1 applied (with modifications) (1.12.1994) by S.I. 1994/2421, art. 16, Sch. 8

Part I Matters Applicable in All Cases

1

Any misfeasance or breach of any fiduciary or other duty by the director in relation to the company.

2

Any misapplication or retention by the director of, or any conduct by the director giving rise to an obligation to account for, any money or other property of the company.

3

The extent of the director’s responsibility for the company entering into any transaction liable to be set aside under Part XVI of the Insolvency Act (provisions against debt avoidance).

F44

The extent of the director's responsibility for any failure by the company to comply with any of the following provisions of the Companies Act 1985, namely—

a

section 288 (register of directors and secretaries);

b

section 352 (obligation to keep up and enter register of members);

c

section 353 (location of register of members);

d

section 363 (duty of company to make annual returns); and

e

sections 399 and 415 (company's duty to register charges it creates).

F5C34A

The extent of the director's responsibility for any failure by the company to comply with any of the following provisions of the Companies Act 2006, namely—

a

section 386 (companies to keep accounting records); and

b

section 388 (where and for how long records to be kept).

F25

The extent of the director's responsibility for any failure by the directors of the company to comply with the following provisions of the Companies Act 2006—

a

section 394 or 399 (duty to prepare annual accounts);

b

section 414 or 450 (approval and signature of abbreviated accounts); or

c

section 433 (name of signatory to be stated in published copy of accounts).

F15A

In the application of this Part of this Schedule in relation to any person who is a director of an open-ended investment company, any reference to a provision of F3the Companies Act 1985 or the Companies Act 2006 is to be taken to be a reference to the corresponding provision of the Open-Ended Investment Companies Regulations 2001 or of any rules made under regulation 6 of those Regulations (Financial Services Authority rules).