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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 7 April 2017 - onwards
Version 4 of 4

121. Disqualification of directors

(1) In this section "the Disqualification Act" means the Company Directors Disqualification Act 1986.

(2) In the Disqualification Act -

(a) a reference to liquidation includes a reference to bank insolvency,

(b) a reference to winding up includes a reference to making or being subject to a bank insolvency order,

(c) a reference to becoming insolvent includes a reference to becoming subject to a bank insolvency order, and

(d) a reference to a liquidator includes a reference to a bank liquidator.

(3) For the purposes of the application of section 7A of the Disqualification Act [In section 121 "the Disqualification Act" means the Company Directors Disqualification Act 1986.] (office-holder's report on conduct of directors) to a bank which is subject to a bank insolvency order -

(a) the "office-holder" is the bank liquidator,

(b) the "insolvency date" means the date on which the bank insolvency order is made, and