1184Disqualification of persons subject to foreign restrictionsU.K.
(1)The Secretary of State may make provision by regulations disqualifying a person subject to foreign restrictions from—
(a)being a director of a UK company,
(b)acting as receiver of a UK company's property, or
(c)in any way, whether directly or indirectly, being concerned or taking part in the promotion, formation or management of a UK company.
(2)The regulations may provide that a person subject to foreign restrictions—
(a)is disqualified automatically by virtue of the regulations, or
(b)may be disqualified by order of the court on the application of the Secretary of State.
(3)The regulations may provide that the Secretary of State may accept an undertaking (a “disqualification undertaking”) from a person subject to foreign restrictions that he will not do anything which would be in breach of a disqualification under subsection (1).
(4)In this Part—
(a)a “person disqualified under this Part” is a person—
(i)disqualified as mentioned in subsection (2)(a) or (b), or
(ii)who has given and is subject to a disqualification undertaking;
(b)references to a breach of a disqualification include a breach of a disqualification undertaking.
(5)The regulations may provide for applications to the court by persons disqualified under this Part for permission to act in a way which would otherwise be in breach of the disqualification.
(6)The regulations must provide that a person ceases to be disqualified under this Part on his ceasing to be subject to foreign restrictions.
(7)Regulations under this section are subject to affirmative resolution procedure.
Commencement Information
I1S. 1184 wholly in force at 1.10.2009; s. 1184 not in force at Royal Assent, see s. 1300; s. 1184 in force for specified purposes at 20.1.2007 by S.I. 2006/3428, art. 3(3) (subject to art. 5, Sch. 1 and with arts. 6, 8, Sch. 5); s. 1184 otherwise in force at 1.10.2009 by S.I. 2008/2860, art. 3(w) (with arts. 5, 7, 8, Sch. 2) (as amended by S.I. 2009/1802, art. 18)