The Financial Services and Markets Act 2000 (Consequential Amendments and Repeals) Order 2001

Disqualification after investigation of company

39.  In section 8 of the Company Directors Disqualification Act 1986 (disqualification after company investigation)(1), for subsection (1) substitute—

“(1) If it appears to the Secretary of State from investigative material that it is expedient in the public interest that a disqualification order should be made against a person who is, or has been, a director or shadow director of a company, he may apply to the court for such an order.

(1A) “Investigative material” means—

(a) a report made by inspectors under—

(i) section 437 of the Companies Act 1985;

(ii) section 167, 168, 169 or 284 of the Financial Services and Markets Act 2000; or

(iii) where the company is an open-ended investment company (within the meaning of that Act) regulations made as a result of section 262(2)(k) of that Act; and

(b) information or documents obtained under—

(i) section 447 or 448 of the Companies Act 1985;

(ii) section 2 of the Criminal Justice Act 1987;

(iii) section 28 of the Criminal Law (Consolidation)(Scotland) Act 1995;

(iv) section 83 of the Companies Act 1989; or

(v) section 165, 171, 172, 173 or 175 of the Financial Services and Markets Act 2000.”.

(1)

Amended by the Financial Services Act 1986 (s. 60), section 198; the Criminal Justice (Scotland) Act 1987 (c.), section 55; the Companies Act 1989 (c. 40), section 79; the Criminal Procedure (Consequential Provisions) (Scotland) Act 1995 (c.), Schedule 4, paragraph 62.