'(1) In subsection (1) of section 9 of the Insolvency Act 1976 (power of court to disqualify persons from acting as directors, etc.) for the words from "the court may" to the end there shall be substituted the words—
"the court may make an order that that person shall not, without the leave of the court—
- be a director of or in any way, whether directly of indirectly, be concerned or take part in the promotion, formation or management of a company;orote>
- be a liquidator of a company; or
- be a receiver or manager of the property of a company;
- for such period as may, subject to subsection (1A) below, be specified in the order.
- (1A) The period which may be specified in any order under subsection (1) above shall begin with the date of the order and may not exceed five years if none of the conduct to which the court has regard under subsection (1) (b) occurred after the day appointed or the coming into force of section (Prohibition on directors of insolvent companies from acting as liquidators, etc.) of the Companies Act 1981, or fifteen years in any other case.".
(2) In subsection (7) of that section, for the definition of "company" there shall be substituted the following definition—
- "'company' includes any company which may be wound up under Part IX of the Companies Act 1948;".
(3) The following subsection shall be inserted in that section after subsection (7)—138
"(7A) An order under subsection (1) may be made on grounds which are or include matters other than criminal convictions notwithstanding that the person in respect of whom the order is to be made may be criminally liable in respect of those matters.".'.—[Mr. Clinton Davis.]
§ Brought up, read the First and Second time, and added to the Bill.