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Corporate Debt : jargon busting : directors disqualification

 

9 : Directors Disqualification :

A Court order restricting a director or shadow director of a company from acting as a director for between 2 and 15 years.

A director may be disqualified following submission of a report to the BERR on each directors conduct. Submission of this report is a mandatory obligation for a lquidator, administrator or receiver to fulfill.

In a CVA there is no requirement for the Supervisor to submit such a report.

Click on the word or phrase to find a straightforward explanation rather than the exact legal definition.

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Last updated :

1st February 2012.

NancollasGreer
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