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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 7 April 2017 - onwards
Version 3 of 3

Regulation 23 Disqualification of directors

(1) In the Disqualification Act -

(a) a reference to liquidation includes a reference to special administration;

(b) a reference to the winding up of a company includes a reference to an investment bank being subject to a special administration order;

(c) a reference to becoming insolvent includes a reference to becoming subject to a special administration order; and

(d) a reference to a liquidator includes a reference to an administrator.

(2) Section 6(2) is not applied.

(3) For the purposes of the application of section 7A of the Disqualification Act [In the Investment Bank Special Administration Regulations 2011 "the Disqualification Act" means the Company Directors Disqualification Act 1986. Section 7A was inserted by the Small Business, Enterprise and Employment Act 2015, section 107(2).] (office-holder's report on conduct of directors) to an investment bank which is in special administration -

(a) the "office-holder" is the administrator;

(b) the "insolvency date" means the date on which the special administration order is made; and