Search results
Results From The WOW.Com Content Network
Lord Millett, in the opinion he gave in Official Receiver v Wadge Rapps & Hunt [2003] UKHL 49 (31 July 2003), summarized the history of disqualification orders in British company law, noting that they were originally created under s. 75 of the Companies Act 1928 (subsequently consolidated as s. 275 of the Companies Act 1929), which was enacted on the recommendation of the Report of the Company ...
The Secretary of State sought director disqualification orders under the Company Directors Disqualification Act 1986 against three directors of Barings for their failure to supervise his activities. They were alleged to be incompetent, and therefore "unfit to be concerned in the management of a company" (sections 6–8).
Cases under the Company Director Disqualification Act 1986, such as Re Barings plc (No 5) [11] show that directors will also be liable for failing to adequately supervise employees or have effective risk management systems, as where the London directors ignored a warning report about the derivatives business in Singapore, where a rogue trader ...
Disqualification, unfitness Re Sevenoaks Stationers (Retail) Ltd [1991] Ch 164 is a UK company law case concerning the test of being unfit to run a company under the Company Directors Disqualification Act 1986 section 6.
Directors who continue to trade while insolvent may face disqualification under the Company Directors Disqualification Act 1986. [3] Under the provision of this act, when a company goes into liquidation, the liquidator must make a report to the Disqualification Unit of the Department for Business, Innovation and Skills on the conduct of all ...
In general terms anyone can be a company director, provided they are not disqualified on one of the following grounds: in the case of PLCs or their subsidiaries, the person is over 70 years of age or reaches 70 years of age while in office, unless they are appointed or re-appointed by resolution of the company in general meeting of which ...
Mr McCredie and Mr F were convicted of holding directorships of a company trading under a prohibited name, contrary to the Insolvency Act 1986 section 216(3) and failure to deliver company books to the liquidator contrary to section 208(1)(c). McCredie was further convicted of removing company property fraudulently, contrary to section 206(2 ...
The Insolvency Service operates under a statutory framework – mainly the Insolvency Act 1986, the Insolvency Act 2000, the Company Directors Disqualification Act 1986 and the Employment Rights Act 1996. Insolvency Service staff are based across the UK in a network of 38 official receiver offices throughout England and Wales;