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The disqualification regime applies to all directors. A director is not precisely defined in legislation but refers to all individuals who hold the position of director by whatever name called (section 250 Companies Act 2006). This includes: i) De Facto Directors – directors who are held out as directors or
An undertaking can be given either before or after the issue of formal legal proceedings by the Secretary of State. Prior to issuing of proceedings As set out already in this blog, before issuing formal proceedings, the Secretary of State will send a section 16 letter to an individual asking
When does a disqualification undertaking take effect? Ordinarily a Disqualification Undertaking takes effect 21 days after the date it has been accepted by the Secretary of State. Can the period of undertaking offered be reduced downwards? It is always possible (and sensible) to try and negotiate the period offered by
Is it easy to find out if someone is subject to a director disqualification order? Once disqualified, that individuals details will appear on a public register (available online) maintained by Companies House. This register is not the easiest to find but is available publicly and is therefore accessible to anyone
Directors’ duties were codified by Part 10 of the Companies Act 2006: Chapter 1 of Part 10 (sections 154-169) sets out the laws relating to company Directors (appointment, register and removal). Chapter 2 of Part 10 (sections 170-180) sets out the statutory duties on Directors. The provisions of the Act
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