Microenterprise Loan Fund Act 2012


Disqualification for office of director of subsidiary.

14.— (1) A director of the subsidiary shall cease to be qualified and cease to be a director of the subsidiary if he or she—

(a) is adjudicated bankrupt,

(b) makes a composition or arrangement with creditors,

(c) is sentenced by a court of competent jurisdiction to a term of imprisonment,

(d) is convicted of any indictable offence in relation to a company,

(e) is convicted of an offence involving fraud or dishonesty, whether in connection with a company or not, or

(f) is the subject of an order under section 160 of the Companies Act 1990.

(2) This section is in addition to, and not in substitution for, any provision of the Companies Acts by virtue of which a person is not qualified for, or shall cease to be, a director of a company.