5. For Article 15(1) of the Company Directors Disqualification (Northern Ireland) Order 2002 (NI 4) (bankrupt) substitute—
“(1) It is an offence for a person to act as director of a company or directly or indirectly to take part in or be concerned in the promotion, formation or management of a company, without the leave of the High Court, at a time when—
(a)he is an undischarged bankrupt, or
(b)a bankruptcy restrictions order is in force in respect of him.”.