(1)Section 5 of the Company Directors Disqualification Act 1986 (disqualification on summary conviction) is amended as follows.
(2) In subsection (1), for the words from "provision of the companies legislation" to "the registrar of companies" substitute "of the relevant provisions of the companies legislation".
(3) For subsection (3) substitute -
"(3) Those circumstances are that, during the 5 years ending with the date of the conviction, there have been no fewer than 3 relevant findings of guilt in relation to the person.
(3A) For these purposes, there is a relevant finding of guilt in relation to the person if -
(a) the person is convicted of an offence counting for the purposes of this section (including the offence of which the person is convicted as mentioned in subsection (2) and any other offence of which the person is convicted on the same occasion),
(b) a financial penalty of the kind mentioned in section 3(3)(aa) is imposed on the person, or
(c) a default order within the mea
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