Company Officers (Disqualification) Act 2009

Link to law: https://legislation.gov.im/cms/images/LEGISLATION/PRINCIPAL/2009/2009-0004/CompanyOfficersDisqualificationAct2009_4.pdf
Published: 2015-11-01

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Subscribe Now
Company Officers (Disqualification) Act 2009

c i e
AT 4 of 2009

COMPANY OFFICERS

(DISQUALIFICATION) ACT 2009

Company Officers (Disqualification) Act 2009 Index


c AT 4 of 2009 Page 3

c i e
COMPANY OFFICERS (DISQUALIFICATION) ACT

2009

Index Section Page

PRELIMINARY 5

1 Disqualification orders: introduction ........................................................................... 5
2 Disqualification undertakings....................................................................................... 6
DISQUALIFICATION FOR UNFITNESS 6

3 Application for disqualification order ......................................................................... 6
4 Power of High Court to disqualify unfit officers ....................................................... 7
5 Duty of High Court to disqualify unfit officers of insolvent companies ................ 7
6 Acceptance of undertaking ............................................................................................ 8
7 Reporting provisions ...................................................................................................... 8
8 Matters for determining unfitness of officers ............................................................. 9
OTHER CASES OF DISQUALIFICATION 9

9 Participation in fraudulent trading .............................................................................. 9
10 Undischarged bankrupts ............................................................................................... 9
CONSEQUENCES OF CONTRAVENTION 10

11 Criminal penalties ......................................................................................................... 10
12 Personal liability for company’s debts if P acts while disqualified ....................... 10
SUPPLEMENTARY PROVISIONS 11

13 Register of disqualification orders and undertakings ............................................. 11
14 Admissibility in evidence of statements .................................................................... 12
15 Inspection and investigation ....................................................................................... 13
16 Restriction on disclosure of information ................................................................... 13
17 Falsification of documents, etc relevant to an investigation ................................... 13
18 False or misleading statements ................................................................................... 13
19 Offences .......................................................................................................................... 14
20 Offences by company ................................................................................................... 14
Index Company Officers (Disqualification) Act 2009


Page 4 AT 4 of 2009 c

GENERAL 15

21 Interpretation ................................................................................................................ 15
22 Consequential amendments and repeals .................................................................. 16
23 Orders and regulations ................................................................................................ 16
24 Short title and commencement ................................................................................... 16
SCHEDULE 1 17

MATTERS FOR DETERMINING UNFITNESS OF OFFICERS 17
SCHEDULE 2 20

INSPECTION AND INVESTIGATION 20
Power of Authority to require information 22

SCHEDULE 3 25

RESTRICTIONS ON DISCLOSURE OF INFORMATION 25
SCHEDULE 4 29

CONSEQUENTIAL AMENDMENTS 29
SCHEDULE 5 30

REPEALS 30
ENDNOTES 31

TABLE OF LEGISLATION HISTORY 31
TABLE OF RENUMBERED PROVISIONS 31
TABLE OF ENDNOTE REFERENCES 31

Company Officers (Disqualification) Act 2009 Section 1


c AT 4 of 2009 Page 5

c i e
COMPANY OFFICERS (DISQUALIFICATION) ACT

2009

Received Royal Assent: 21 April 2009
Passed: 21 April 2009
Commenced: 21 April 2009
AN ACT
to amend the law relating to the disqualification of persons for being
officers of companies and for being otherwise concerned with a company’s
affairs; and for connected purposes.
PRELIMINARY

1 Disqualification orders: introduction

[P1986/46/1]
(1) A disqualification order is an order that a person must not, without leave
of the High Court, be an officer of a company for a period specified in the
order.
(2) The following are officers of a company for the purposes of this Act —
(a) a director, secretary or registered agent;
(b) a liquidator;
(c) a receiver;
(d) a person holding an office under any relevant foreign law
analogous to any of the offices specified in paragraph (a), (b) or (c)
in respect of a company; or
(e) a person who, in any way, whether directly or indirectly, is
concerned or takes part in the promotion, formation or
management of a company.
(3) Unless the court otherwise orders, the period of disqualification shall
begin at the end of the period of 21 days beginning with the date of the
order.
(4) If a disqualification order is made against a person who is already subject
to such an order or to a disqualification undertaking, the court may order
Section 2 Company Officers (Disqualification) Act 2009


Page 6 AT 4 of 2009 c

the periods specified in those orders or (as the case may be) in the order
and the undertaking to run concurrently or consecutively.
(5) A disqualification order may be made on grounds which are or include
matters other than criminal convictions, despite the fact that the person
in respect of whom the order is to be made may be criminally liable in
respect of those matters.
(6) In the subsequent provisions of this Act “P
” means the person who is, or
is liable to be, the subject of a disqualification order or a disqualification
undertaking.
(7) In subsection (2)(d) “relevant foreign law” means the law of a place
outside the Island under which the company is for the time being
established.
2 Disqualification undertakings

[P1986/46/1A]
(1) A disqualification undertaking is an undertaking by P that for a period
specified in it, P will not be an officer of a company without the leave of
the High Court or the Isle of Man Financial Services Authority (referred
to in this Act as “the Authority
”).1

(2) The Authority may accept a disqualification undertaking in the
circumstances specified in section 6.2

(3) The maximum period which may be specified in a disqualification
undertaking is 15 years and the minimum period is 2 years.
(4) If the Authority accepts a disqualification undertaking and P is already
subject to such an undertaking or to a disqualification order, the periods
specified in those undertakings or (as the case may be) the undertaking
and the order may run concurrently or consecutively as the Authority
and P may agree.3

(5) In determining whether to accept a disqualification undertaking offered
by P, the Authority may take account of matters other than criminal
convictions, despite the fact that P may be criminally liable in respect of
those matters.4

DISQUALIFICATION FOR UNFITNESS

3 Application for disqualification order

[P1986/46/16]
(1) An application to the High Court for the making of a disqualification
order against P may be made —
(a) by the Authority (if it appears to the Authority that it is expedient
in the public interest to do so);5

Company Officers (Disqualification) Act 2009 Section 4


c AT 4 of 2009 Page 7

(b) by the official receiver;
(c) by the liquidator; or
(d) by any past or present member or creditor of any company in
relation to which P has engaged in conduct rendering P unfit to be
an officer.
(2) A person intending to apply to the High Court for the making of a
disqualification order must give not less than 28 days’ notice of that
intention to the person against whom the order is sought.
(3) Proceedings for a disqualification order may only be brought within 2
years of the date on which the applicant could reasonably be expected to
have sufficient knowledge of evidence to justify proceedings, unless the
High Court grants leave for an application to be made later.
4 Power of High Court to disqualify unfit officers

[1992/4/26]
(1) On an application under this section the High Court may make a
disqualification order against P if it is satisfied —
(a) that P is or has been an officer of a company, and
(b) that P’s conduct renders P unfit to be an officer of a company.
(2) Under this section the maximum period of disqualification is 15 years
and the minimum period is 2 years.
5 Duty of High Court to disqualify unfit officers of insolvent companies

[1982/2/31; P1986/46/6]
(1) On an application under this section the High Court must make a
disqualification order against P if it is satisfied —
(a) that P is or has been an officer of a company which has at any
time become insolvent (whether while P was an officer or
subsequently), and
(b) that P’s conduct as an officer of that company (either taken alone
or taken together with P’s conduct as an officer of any other
company or companies) makes P unfit to be an officer of a
company.
(2) Under this section the maximum period of disqualification is 15 years
and the minimum period is 2 years.
(3) An application for the making of a disqualification order under this
section against P may only be made before the end of the period of 2
years beginning with the day on which the company is wound up or
dissolved, unless the High Court grants leave for an application to be
made later.
Section 6 Company Officers (Disqualification) Act 2009


Page 8 AT 4 of 2009 c

(4) In this section references to P’s conduct as an officer of any company or
companies include, where that company or any of those companies has
become insolvent, P’s conduct in relation to any matter connected with
or arising out of the insolvency of that company.
6 Acceptance of undertaking

[P1986/46/7(2A)]
(1) If it appears to the Authority that —
(a) the conditions in section 4(1) or 5(1) are satisfied; and
(b) P has offered a disqualification undertaking,
the Authority may accept the undertaking if satisfied that it is expedient
in the public interest that it should do so (instead of applying, or
proceeding with an application, for a disqualification order).6

(2) The Authority must prescribe the form of a disqualification undertaking
after consulting the Deemsters.7

7 Reporting provisions

(1) If it appears to an office-holder responsible under this section that the
conditions mentioned in section 4(1) or section 5(1) are satisfied in
relation to P as an officer of that company, the office-holder must
forthwith report the matter to the Authority.8

(2) The office-holders are —
(a) in the case of a company which is being wound up by the High
Court, the official receiver;
(b) in the case of a company which is being wound up otherwise, the
liquidator; or
(c) in the case of a company in respect of the property of which a
receiver has been appointed, that receiver.
(3) The Authority or the official receiver may require an office-holder —
(a) to furnish such information with respect to P’s conduct as an
officer of the company, and
(b) to produce and permit inspection of such books, papers and other
records relevant to that conduct,
as the Authority or official receiver reasonably requires for the purpose
of exercising, or determining whether to exercise, any function under this
Act.9

Company Officers (Disqualification) Act 2009 Section 8


c AT 4 of 2009 Page 9

8 Matters for determining unfitness of officers

[P1986/46/9]
(1) Where it falls to a court to determine whether the conduct of P as an
officer of any particular company or companies makes P unfit to be an
officer of a company, in assessing that conduct, the court must have
regard, amongst other things, to the following —
(a) the matters mentioned in Part I of Schedule 1; and
(b) if the company has become insolvent, to the matters mentioned in
Part II of that Schedule,
and references in that Schedule to the officer and the company are to be
read accordingly.
(2) In determining whether the Authority may accept a disqualification
undertaking from P, it must have regard to the same matters as those to
which the court must have regard under subsection (1).10

(3) The Authority may by order amend or repeal any of the provisions of
Schedule 1 and such an order may contain such incidental, supplemental
and transitional provisions as may appear to the Authority necessary or
expedient.11

OTHER CASES OF DISQUALIFICATION

9 Participation in fraudulent trading

[P1986/46/10]
(1) Where the High Court makes a declaration under section 259 of the
Companies Act 1931 (responsibility of directors for fraudulent trading)
that P is liable to make a contribution to a company’s assets, then,
whether or not an application for such an order is made by any person, it
shall consider making a disqualification order against P.
(2) The maximum period of disqualification under this section is 15 years.
10 Undischarged bankrupts

[1931/XIII/141; P1986/46/11]
(1) P must not, whilst an undischarged bankrupt, act as an officer of a
company, except with the leave of the High Court.
(2) The High Court must not give leave unless P has given notice of P’s
intention to apply for leave to P’s trustee in bankruptcy and the
Authority.12

(3) If the Authority is of the opinion that the grant of leave would be
contrary to the public interest, it must attend on the hearing of the
application and oppose it.13

Section 11 Company Officers (Disqualification) Act 2009


Page 10 AT 4 of 2009 c

(4) For the purpose of this section P is bankrupt if —
(a) P has been adjudged bankrupt by any court in the Island,
England, Wales or Northern Ireland,
(b) sequestration of P’s estate has been awarded by a court in
Scotland, or
(c) a court in the Republic of Ireland or any of the Channel Islands
has made an order in respect of P having the like effect as an
adjudication of the High Court.
CONSEQUENCES OF CONTRAVENTION

11 Criminal penalties

[P1986/46/13]
(1) If P contravenes a disqualification order, a disqualification undertaking
or section 10(1), P commits an offence.
(2) A person who commits an offence under subsection (1) is liable —
(a) on conviction on information, to custody for not more than 2
years or a fine, or both; and
(b) on summary conviction, to custody for not more than 6 months or
a fine not exceeding £5,000, or both.
(3) Proceedings for an offence under subsection (1) may only be instituted
by, or with the consent of, the Attorney General.
(4) If P is convicted of an offence under subsection (1) whilst subject to a
disqualification order or undertaking, the court by which P is convicted
may make a disqualification order to run concurrently or consecutively
with the disqualification order or disqualification undertaking (as the
case may be) which is breached.
(5) Proceedings under subsection (1) may not be brought more than 12
months after the date on which evidence, sufficient in the opinion of the
Attorney General to justify proceedings, comes to his or her knowledge.
(6) For the purpose of subsection (5) a certificate signed by the Attorney
General stating the date upon which such evidence came to his or her
knowledge shall be conclusive of that fact, and for the purposes of
subsections (3) and (5) a document purporting to be signed by the
Attorney General shall be presumed to be so signed unless the contrary
is proved.
12 Personal liability for company’s debts if P acts while disqualified

[P1986/46/15]
(1) P is personally responsible for all the relevant debts of a company if at
any time —
Company Officers (Disqualification) Act 2009 Section 13


c AT 4 of 2009 Page 11

(a) P contravenes a disqualification order or disqualification
undertaking by acting as an officer of the company, or
(b) as an officer of the company, P acts or is willing to act on
instructions given, without the leave of the court, by a person
whom P knows to be the subject of a disqualification order or
disqualification undertaking or to be an undischarged bankrupt.

(2) If P is personally responsible under this section for the relevant debts of a
company, P is jointly and severally liable in respect of those debts with
the company and any other person who, whether under this section or
otherwise, is so liable.
(3) For the purposes of this section the relevant debts of a company are —
(a) if paragraph (a) of subsection (1) applies, such debts and other
liabilities of the company as were incurred at a time when P was
involved in the management of the company, and
(b) if paragraph (b) of that subsection applies, such debts and other
liabilities of the company as were incurred at a time when P was
acting or was willing to act on instructions given as mentioned in
that paragraph.
(4) For the purposes of this section if P has at any time acted on instructions,
given without the leave of the court, by a person whom P knew at that
time to be the subject of a disqualification order or disqualification
undertaking or to be an undischarged bankrupt, P is presumed, unless
the contrary is shown, to have been willing at any time after acting on
such instructions for the first time, to act on any instructions given by
that person.
SUPPLEMENTARY PROVISIONS

13 Register of disqualification orders and undertakings

[P1986/46/18]
(1) The Authority may require the Chief Registrar to furnish it with such
particulars as it may specify of cases in which —
(a) a disqualification order is made;
(b) any action is taken by a court in consequence of which such an
order or disqualification undertaking is varied or ceases to be in
force; or
(c) leave is granted by the High Court for P, while subject to such an
order, to do any thing which the order would otherwise prohibit
P from doing; or
Section 14 Company Officers (Disqualification) Act 2009


Page 12 AT 4 of 2009 c

(d) leave is granted by a court for P while subject to such an
undertaking to do anything which otherwise the undertaking
prohibits P from doing,
and may specify the time within which, and the form and manner in
which, such particulars are to be furnished.14

(2) The Authority must, from the particulars so furnished, maintain a
register of orders, and of cases in which leave has been granted as
mentioned in subsection (1)(c).15

The register is referred to in the following provisions of this Act as the
“disqualification register
”.
(3) The Authority must incorporate into the disqualification register such of
the information in the indexes kept by it under —
(a) section 259(8) of the Companies Act 1931; and
(b) section 26(5) of the Companies Act 1992,
(which are superseded by this section) as is relevant at the coming into
operation of this section.16

(4) The Authority must include in the disqualification register such
particulars as it considers appropriate of disqualification undertakings
accepted under section 6 and of cases in which leave has been granted as
mentioned in subsection (1)(d).17

(5) When an order or undertaking of which entry is made in the
disqualification register ceases to be in force, the Authority must delete
the entry from the register and all particulars relating to it which have
been furnished to it under this section or any previous provision
corresponding to it, and, in the case of a disqualification undertaking,
any other particulars it has included in the disqualification register.18

(6) The Authority must make the disqualification register available for
inspection —
(a) at the office for the registration of companies; and
(b) on the Authority’s website or in such other manner as it may
deem appropriate.19
20

(7) The Authority may from time to time publish the disqualification
register, or changes to it, if it appears to it desirable in the public interest
to do so.21

This subsection does not limit the scope of subsection (6).
14 Admissibility in evidence of statements

[P1986/46/20]
(1) In any proceedings (whether or not under this Act), any statement made
in pursuance of a requirement imposed by or under any provision of this
Company Officers (Disqualification) Act 2009 Section 15


c AT 4 of 2009 Page 13

Act, may be used in evidence against any person making, or concurring
in the making of, the statement.
(2) But in criminal proceedings in which any such person is charged with an
offence to which this subsection applies —
(a) no evidence relating to the statement may be adduced, and
(b) no question relating to it may be asked,
by or on behalf of the prosecution, unless evidence relating to it is
adduced, or a question relating to it is asked, in the proceedings by or on
behalf of that person.
(3) Subsection (2) applies to proceedings for an offence other than —
(a) an offence under section 17 (falsification of documents, etc) or 18
(false statements); or
(b) an offence under section 5 of the Perjury Act 1952 (false statutory
declarations and other false statements made without oath).
15 Inspection and investigation

Schedule 2 (inspection and investigation) has effect.
16 Restriction on disclosure of information

Schedule 3 (restrictions on disclosure of information) has effect.
17 Falsification of documents, etc relevant to an investigation

(1) A person commits an offence if he or she —
(a) knows or suspects that an investigation by the Authority is being
or is likely to be carried out; and22

(b) falsifies, conceals, destroys or otherwise disposes of, or causes or
permits the falsification, concealment, destruction or disposal of
documents which he or she knows or suspects are or would be
relevant to such an investigation.
(2) It is a defence, in proceedings for an offence under subsection (1), for the
defendant to prove that he or she had no intention of concealing the facts
disclosed by the documents from persons carrying out the investigation.
18 False or misleading statements

A person commits an offence if he or she provides a document or information to
the Authority which is false or misleading in a material particular and —
(a) he or she knows the document or information is false or
misleading in a material particular; or
(b) he or she is reckless as to whether the document or information is
false or misleading in a material particular.23

Section 19 Company Officers (Disqualification) Act 2009


Page 14 AT 4 of 2009 c

19 Offences

(1) A person guilty of an offence under section 17 is liable —
(a) on conviction on information, to a fine or to custody not
exceeding 5 years, or to both; or
(b) on summary conviction, to a fine not exceeding £5,000 or to
custody not exceeding 6 months, or to both.
(2) A person guilty of an offence under section 18, paragraph 1(5) or 3(8) of
Schedule 2 or paragraph 1(5) of Schedule 3 is liable —
(a) on conviction on information, to custody not exceeding 2 years or
to a fine, or to both;
(b) on summary conviction, to custody not exceeding 6 months or to
a fine not exceeding £5,000 or to both.
20 Offences by company

(1) If an offence under this Act is committed by a company and it is proved
that the offence —
(a) was committed with the consent or connivance of a responsible
person; or
(b) was attributable to neglect on the part of a responsible person,
subsections (2) and (3) apply.
(2) The responsible person, as well as the company, is guilty of the offence.
(3) Where an individual is convicted of an offence under this Act by virtue
of subsection (2), that individual is liable to the same penalty as that to
which the company would have been liable had it been an individual.
(4) In this section “responsible person” means —
(a) a director, manager or secretary or other similar officer of the
company;
(b) if the affairs of the company are managed by its members, a
member;
(c) in respect of a limited liability company constituted under the
Limited Liability Companies Act 1996, a member of the limited
liability company, its manager and its registered agent;
(d) a registered agent of a company incorporated under the Companies
Act 2006; and
(e) a person purporting to act in the capacity of an officer specified in
paragraphs (a), (b), (c) or (d).
Company Officers (Disqualification) Act 2009 Section 21


c AT 4 of 2009 Page 15

GENERAL

21 Interpretation

[P1986/46/22]
(1) In this Act —
“Authority
” has the meaning given in section 2(1);24

“Commission
” [Repealed]25

“Companies Acts
” means the Companies Acts 1931 to 2004, the Limited Liability
Companies Act 1996 and the Companies Act 2006;
“company
” includes —
(a) a company formed and registered under the Companies Acts 1931
to 2004;
(b) a company which may be wound up under Part X of the
Companies Act 1931;
(c) a company registered under the Foreign Companies Act 2014;26

(d) a company within the meaning of section 219(1) of the Companies
Act 2006;
(e) a limited liability company within the meaning of section 1 of the
Limited Liability Companies Act 1996; and
(f) in the application of Schedule 1, a company within the meaning of
paragraph 15 of that Schedule;
“director
” includes any person occupying the position of director, by whatever
name called;
“disqualification register
” has the meaning given in section 13(2);
“financial services legislation
” means —
(a) the Financial Services Act 2008;
(b) the Insurance Act 2008;
(c) the Insider Dealing Act 1998;
(d) the Collective Investment Schemes Act 2008;
(e) the Insurance Act 1986;
(f) any legislation applied to the Island and contained in, or made
under, the Pension Schemes Act 1995 (of Parliament); and
(g) the Retirement Benefits Schemes Act 2000;
“officer
” has the meaning given in section 1(2);
“official receiver
” means a person who —
(a) by virtue of section 173 or 174 of the Companies Act 1931 is
authorised to act as the official receiver in relation to a winding-
up;
Section 22 Company Officers (Disqualification) Act 2009


Page 16 AT 4 of 2009 c

(b) by virtue of an enactment having corresponding effect outside the
Island is authorised to discharge similar functions to a person
appointed under paragraph (a);
“P
” has the meaning given by section 1(6);
“registered agent
” means a registered agent appointed for the purposes of
section 5 of the Limited Liability Companies Act 1996 or section 74 of the
Companies Act 2006.
(2) Part V of the Companies Act 1931(winding up) applies as regards
construction of references to a company’s insolvency and to its going into
liquidation.
(3) Any expression for whose interpretation provision is made by an
enactment contained in the Companies Acts, and not by subsection (1) or
(2) above, is to be construed in accordance with that enactment.
22 Consequential amendments and repeals

(1) Schedule 4, which contains amendments consequential on the provisions
of this Act, has effect.
(2) The enactments specified in column 2 of Schedule 5 are repealed to the
extent specified in column 3.
23 Orders and regulations

Orders and regulations under this Act, except orders under section 24(2), shall
not have effect unless approved by Tynwald.
24 Short title and commencement

(1) This Act may be cited as the Company Officers (Disqualification)
Act 2009.
(2) This Act, other than section 23 and this section, shall come into operation
on such day or days as the Authority may by order appoint and different
days may be so appointed for different provisions and different
purposes.27
28

Company Officers (Disqualification) Act 2009 Schedule 1



c AT 4 of 2009 Page 17

Schedule 1

MATTERS FOR DETERMINING UNFITNESS OF OFFICERS

Section 8
PART I – MATTERS APPLICABLE IN ALL CASES

1. Any misfeasance or breach of any fiduciary or other duty by P in relation to the
company.
2. Any misapplication or retention by P, or any conduct by P giving rise to an
obligation to account for, any money or other property of the company.
3. The extent of P’s responsibility for the company entering into any transaction
liable to be set aside under section (4) of the Fraudulent Assignments Act 1736, at
common law or under any laws having similar effect in any country or territory
outside the Island.
4. (1) The extent of P’s responsibility for any failure by the company to comply
with a relevant provision.
(2) For the purposes of this paragraph the following are relevant
provisions —
(a) section 1 of the Companies Act 1982, section 19 of the Limited
Liability Companies Act 1996, section 80 of the Companies Act 2006
(companies to keep accounting records) and section 42 of the
Foundations Act 2011 (foundation to keep accounts)29
;
(b) section 143 of the Companies Act 1931 (register of directors and
secretaries), section 78 of the Companies Act 2006 (documents to be
kept at office of registered agent) and section 41 of the Foundations
Act 2011 (documents to be kept at business address of
foundation)30
;
(c) section 96 of the Companies Act 1931, section 62 of the Companies
Act 2006 (obligation to keep and enter up register of members)
and section 45 of the Foundations Act 2011 (amendment of the
foundation instrument)31
;
(ca) section 71 of the Companies Act 1931 (prohibition of bearer
shares);32

(d) sections 107 and 108 of the Companies Act 1931, section 85 of the
Companies Act 2006, section 10 of the Limited Liability Companies
Act 1996 (duty of company to make annual returns) and section 44
of the Foundations Act 2011 (foundation to make annual return)33
;
Schedule 1
Company Officers (Disqualification) Act 2009


Page 18 AT 4 of 2009 c

(e) sections 80 and 81 of the Companies Act 1931 (company’s duty to
register charges it creates), section 20 of the Limited Liability
Companies Act 1996 and section 137 of the Companies Act 2006
(both of which provide for a company to keep a register of
charges); and
(f) legislation having equivalent effect in any country or territory
outside the Island.
5. In the case of a company incorporated under the Companies Acts 1931 to 2004,
the extent of P’s responsibility for any failure by the directors of the company to
comply with Part 1 of the Companies Act 1982 (accounts and audit).
6. If P or a company of which P is or was an officer —
(a) has been convicted of an offence (whether in the Island or
elsewhere) which involves dishonesty; or
(b) has been convicted (whether in the Island or elsewhere) within
the 25 years ending with the date of the application of any
combination of 3 or more offences under —
(i) the Companies Acts, the Foundations Act 2011, or financial
services legislation; or34

(ii) legislation having equivalent effect in any country or
territory outside the Island.
For this purpose it is immaterial that the offences or the convictions
occurred on the same occasion.
7. If P has failed to comply with an order of the High Court under section 26(4) of
the Companies Act 1992.
8. The extent of P’s responsibility as an officer of the company for failure to
comply with a direction of the High Court under section 26(4) of the Companies Act
1992.
8A. If P, being a council member of a foundation, is found guilty of an offence by
virtue of section 60(3) of the Foundations Act 2011.35

9. (1) If a company of which P is or was an officer is subject to foreign
restrictions in consequence of which P —
(a) is, by reason of misconduct or unfitness, disqualified to any
extent, by or under the law by or under which the foreign
restrictions were imposed, from being an officer of a company,
(b) is, by reason of misconduct or unfitness, required —
(i) to obtain permission from a court or other authority, or
(ii) to meet any other condition,
before acting as an officer of a company, or
Company Officers (Disqualification) Act 2009 Schedule 1



c AT 4 of 2009 Page 19

(c) has given undertakings, in connection with P’s misconduct or
unfitness, to a court or other authority of a country or territory
outside the Island —
(i) not to act as an officer of a company, or
(ii) restricting the extent to which, or the way in which, P may
do so.
(2) In this paragraph “foreign restrictions” means restrictions imposed by or
under the law of a country or territory outside the Island.
PART II – MATTERS APPLICABLE WHERE COMPANY

INSOLVENT

10. The extent of the P’s responsibility for the causes of the company becoming
insolvent.
11. The extent of the P’s responsibility for any failure by the company to supply any
goods or services which have been paid for (in whole or in part).
12. The extent of the P’s responsibility for the company entering into any
transaction or giving any preference, being a transaction or preference liable to be set
aside under section 167 or 250 of the Companies Act 1931, or under any laws having
similar effect in any country or territory outside the Island.
13. The extent of the P’s responsibility for any failure by the officers of a company
incorporated under the Companies Acts 1931 to 2004 or the Companies Act 2006 to
comply with section 226 of the Companies Act 1931 (meeting of creditors in creditors’
voluntary winding up).
14. (1) Any failure of P, as a director of a company, to comply with any
obligation imposed on P by or under any of the relevant provisions of the Companies
Act 1931 —
(a) as those provisions apply to companies incorporated, formed and
registered or capable of being wound up under that Act; or
(b) as those provisions apply to companies incorporated or continued
under the Companies Act 2006 and to limited liability companies
formed under the Limited Liability Companies Act 1996.
(2) Any failure by P as a director of a company to comply with any
obligation imposed on P by any provision of legislation having equivalent effect to the
relevant provisions of the Companies Act 1931 in any country or territory outside the
Island.
(3) For the purposes of this paragraph, the relevant provisions of the
Companies Act 1931 are —
(a) section 175 (statement of affairs in winding up by the Court);
(b) section 234 (delivery of company property to liquidator); and
Schedule 2
Company Officers (Disqualification) Act 2009


Page 20 AT 4 of 2009 c

(c) section 255 (duty to co-operate with liquidator, etc).
PART III – INTERPRETATION

15. In the application of this Schedule to a body incorporated under the law of a
country or territory outside the Island “company” means a body which according to
the law of that country or territory (including its rules of private international law) has
the characteristics of a company.
Schedule 2

INSPECTION AND INVESTIGATION

Section 15
Inspection and investigation
1. (1) The powers provided by this paragraph may be exercised in relation to P
if P is, on reasonable grounds, suspected by the Authority of —
(a) being unfit to act as an officer of a company; or
(b) acting in breach of a disqualification order or a disqualification
undertaking.36

(2) The Authority may inspect the books, accounts and documents and
investigate the transactions of a company.37

(3) The Authority shall have every such power of entry and access as may be
necessary for the purposes of sub-paragraph (2), and it may take possession of all such
books, accounts and documents as, and for so long as, may be necessary for those
purposes.38

(4) The Authority may take copies of all books, accounts and documents in
its possession for the purposes of an inspection and investigation under this
paragraph.39

(5) Any person who intentionally obstructs the Authority when acting in the
execution of its powers under sub-paragraph (2), (3) or (4) shall be guilty of an
offence.40

(6) In this paragraph references to the Authority include any person
authorised by the Authority in writing for the purposes of this paragraph.41

(7) The Authority shall exercise its right of entry and access under sub-
paragraph (3) only during reasonable hours, and any person authorised by the
Authority under sub-paragraph (6) to exercise that right shall, when doing so, produce
written evidence of his or her appointment if required to do so.42

(8) A person shall not be under an obligation under this paragraph to
disclose any items subject to legal privilege within the meaning of section 13 of the
Police Powers and Procedures Act 1998.
Company Officers (Disqualification) Act 2009 Schedule 2



c AT 4 of 2009 Page 21

Requests for information
2. (1) The powers provided by this paragraph may be exercised if P is, on
reasonable grounds, suspected by the Authority of —
(a) being unfit to act as an officer of a company; or
(b) acting in breach of a disqualification order or a disqualification
undertaking.43

(2) The Authority may request a company to provide the Authority with any
information that it may reasonably require for the performance of its functions under
this Act and may require such information to be verified in such manner as the
Authority directs.44

(3) But the Authority may only exercise the powers under this paragraph if,
on reasonable grounds, it appears to the Authority necessary for the performance of its
functions under this Act.45

(4) The Authority may in particular request information about —
(a) the affairs of an actual or prospective customer of the company,
subject to sub-paragraph (6);
(b) any other company which is or has at any relevant time been —
(i) a holding company, subsidiary or related company (within
the meaning of the Financial Services Act 2008) of the
company;
(ii) a subsidiary of a holding company of the company;
(iii) a holding company of a subsidiary of the company; or
(iv) a company in the case of which a shareholder controller of
the company, either alone or with any associate or
associates, is entitled to exercise, or control the exercise of,
more than 50 per cent of the voting power at a general
meeting; and
(c) any partnership of which the company is or has at any relevant
time been a partner.46

(5) The Authority may issue directions to a company to secure that effect is
given to a request under sub-paragraph (2) and the directions shall include a statement
of reasons for their issue.47

(6) The Authority shall not make any request under sub-paragraph (2) with
respect to the affairs of any particular actual or prospective customer of a company
mentioned in sub-paragraph (2) unless the Authority is satisfied that it is necessary for
the purpose of —
(a) securing that a direction issued under sub-paragraph (5) is
complied with; or
(b) protecting the interests of that company’s other customers.48

(7) If a company contravenes any direction under sub-paragraph (5), the
Authority may apply to the High Court for an order requiring the company to comply
with it.49

Schedule 2
Company Officers (Disqualification) Act 2009


Page 22 AT 4 of 2009 c

(8) A statement by a person in response to a direction issued under this
paragraph may not be used in evidence against that person in respect of any criminal
proceedings except proceedings alleging contravention of section 17 or 18 or section 5
of the Perjury Act 1952.
(9) A person shall not be under an obligation under this paragraph to
disclose any information subject to legal privilege within the meaning of section 13 of
the Police Powers and Procedures Act 1998.
(10) In this paragraph —
“associate”, “holding company” and “subsidiary” have the meanings
given by section 48(1) of the Financial Services Act 2008; and
“shareholder controller” means a person who either alone or with any
associate or associates is entitled to exercise or controls the
exercise of at least 15% of the voting power at any general
meeting of a body corporate or of another body corporate of
which the first is a subsidiary.
(11) For the purposes of this paragraph —
(a) “related company” in relation to a company (“A”) means a
company (“B”) which is not a subsidiary of A but in which A
holds a qualifying capital interest;
(b) “qualifying capital interest” means an interest in relevant shares
of B which A holds on a long-term basis for the purpose of
securing a contribution to its own activities by the exercise of
control or influence arising from that interest;
(c) “relevant shares” are shares comprised in the equity share capital
(within the meaning of section 1(5) of the Companies Act 1974) of B
of a class carrying rights to vote in all circumstances at general
meetings of B;
(d) a holding of at least 20% of the nominal value of the relevant
shares of a company shall be presumed to be a qualifying capital
interest unless the contrary is shown.
Power of Authority to require information50

3. (1) Where, on an application made by the Authority, a justice of the peace is
satisfied that there is good reason to do so for the purpose of investigating the affairs,
or any aspect of the affairs, of any company so far as is relevant to the performance of
the Authority’s functions under this Act the justice may by written instrument,
authorise the Authority to exercise the powers under this paragraph and such powers
shall not otherwise be exercisable.51

(2) The Authority may by notice in writing, accompanied by a copy of the
instrument issued under sub-paragraph (1), require —
(a) the person whose affairs are to be investigated (“the person under
investigation”); or
Company Officers (Disqualification) Act 2009 Schedule 2



c AT 4 of 2009 Page 23

(b) any other person whom it has reason to believe has relevant
information,
to attend before the Authority at a specified time and place to answer
questions or otherwise furnish information with respect to any matter
relevant to the investigation.52

(3) The Authority may by notice in writing, accompanied by a copy of the
instrument issued under sub-paragraph (1), require any person to produce at a
specified time and place any specified documents, copies of documents, or any
documents of a specified class, which appear to the Authority to relate to any matter
relevant to the investigation.53

(4) If documents or copies of documents are not produced as required under
sub-paragraph (3), the Authority may require the person who was required to produce
them to state, to the best of that person’s knowledge and belief, where they are.54

(5) Where any documents are produced as required under sub-paragraph
(3), the Authority may —
(a) take possession of them for so long as may be necessary; or
(b) take copies or extracts from them; or
(c) require the person producing them to provide an explanation of
any of them.55

(6) A statement by a person in response to a requirement imposed under
this paragraph may not be used in evidence against that person in respect of any
criminal proceedings except proceedings for an offence under —
(a) sub-paragraph (8);
(b) section 17 or 18; or
(c) section 5 of the Perjury Act 1952.
(7) A person shall not be under an obligation under this paragraph to
disclose any items subject to legal privilege within the meaning of section 13 of the
Police Powers and Procedures Act 1998.
(8) Any person who without reasonable excuse fails to comply with a
requirement imposed under this paragraph is guilty of an offence.
(9) In this paragraph, “documents” includes information recorded in any
form and, in relation to information recorded otherwise than in legible form, references
to its production include references to producing a copy of the information in legible
form.
(10) Where a person claims a lien on a document, its production under this
paragraph does not affect the lien.
Judge’s search warrant
4. (1) Where, on information on oath laid by the Authority, a judge of the High
Court is satisfied, in relation to any documents, that there are reasonable grounds for
believing —
(a) that —
Schedule 2
Company Officers (Disqualification) Act 2009


Page 24 AT 4 of 2009 c

(i) a person has failed to comply with an obligation under
paragraph 3 to produce them or copies of them; or
(ii) it is not practicable to serve a notice under paragraph 3(3)
in relation to them; or
(iii) the service of such a notice in relation to them might
seriously prejudice the investigation; and
(b) that the documents are on premises specified in the information,
the judge may issue a warrant.56

(2) The warrant authorises any person named in it —
(a) to enter (using such force as is reasonably necessary for the
purpose) and search the premises; and
(b) to take possession of any documents appearing to be documents
of the description specified in the information, or to take in
relation to any documents so appearing any other steps which
may appear to be necessary for preserving them and preventing
interference with them.
(3) If, during the course of a search of premises for documents of a
description specified in the information, other documents are discovered which appear
to contain evidence relating to the discharge of the Authority’s functions under this Act
or to an offence under this Act, the financial services legislation or the Companies Acts,
the person named in the warrant may —
(a) take possession of those documents; or
(b) take any other steps in relation to those documents which may
appear to be necessary for preserving them and preventing
interference with them.57

(4) A person executing a warrant issued under sub-paragraph (1) shall be
accompanied by a constable.
(5) A person shall not be under an obligation under this paragraph to
disclose any items subject to legal privilege within the meaning of section 13 of the
Police Powers and Procedures Act 1998.
(6) In this paragraph “documents” has the same meaning as in paragraph 3.
Authorised persons
5. (1) The Authority may authorise any person to exercise on its behalf all or
any of the powers conferred by or under this Schedule.58

(2) But authority must not be granted except for the purpose of investigating
the affairs, or any aspect of the affairs, of a person specified in the authority.
(3) No person is bound to comply with any requirement imposed by a
person exercising powers by virtue of any authority granted under sub-paragraph (1)
unless he or she has, if required to do so, produced evidence of his or her authority.
Company Officers (Disqualification) Act 2009 Schedule 3



c AT 4 of 2009 Page 25

Schedule 3

RESTRICTIONS ON DISCLOSURE OF INFORMATION

Section 16
Restrictions on disclosure of information
1. (1) Information which is restricted information for the purposes of this
Schedule and relates to the business or other affairs of any person must not be
disclosed —
(a) by the primary recipient; or
(b) any person obtaining the information directly or indirectly from a
primary recipient,
without the consent of the person to whom it relates.
This sub-paragraph is subject to paragraph 2.
(2) Information is restricted information for the purposes of this Schedule if
it is obtained by a primary recipient for the purposes of, or in the discharge of its
functions under this Act or any regulations made under this Act (whether or not by
virtue of any requirement to supply it made under those provisions).
(3) But information is not restricted information if it has been made available
to the public by virtue of being disclosed in any circumstances in which, or for any
purpose for which, disclosure is not precluded by this paragraph.
(4) In this paragraph “primary recipient” means —
(a) the Authority and its members;59

(b) the Registrar of Companies appointed under section 205 of the
Companies Act 2006; and
(c) any officer or servant of any such person.
(5) Any person who contravenes this paragraph is guilty of an offence.
Exceptions from restrictions on disclosure
2. (1) Paragraph 1 does not preclude the disclosure of information —
(a) with a view to the institution of or otherwise for the purposes of
criminal proceedings (whether in the Island or elsewhere);
(b) to any constable for the purpose of enabling or assisting the Isle of
Man Constabulary to discharge its functions;
(c) with a view to the institution of or otherwise for the purposes of
any civil proceedings arising under or by virtue of this Act or the
Financial Services Act 2008;
(d) for the purpose of enabling or assisting the Treasury to discharge
its functions under the Financial Services Act 2008, the Companies
Acts, the enactments relating to insurance companies or
insolvency or for the purpose of enabling or assisting any
Schedule 3
Company Officers (Disqualification) Act 2009


Page 26 AT 4 of 2009 c

inspector appointed by the High Court under the Companies Acts
to discharge the inspector’s functions;
(e) for the purpose of enabling or assisting the body administering a
compensation scheme under section 25 of the Financial Services Act
2008 to discharge its functions under the scheme;
(f) for the purpose of enabling or assisting the Authority to discharge
its functions;60

(g) for the purpose of enabling or assisting the Authority to discharge
its functions under the Retirement Benefits Schemes Act 2000 and
the Insurance Act 2008;61

(h) for the purpose of enabling or assisting the Assessor of Income
Tax to discharge the Assessor’s functions under enactments
relating to income tax;
(i) for the purpose of enabling or assisting the Collector of Customs
and Excise to discharge the Collector’s functions under
enactments relating to customs and excise or in relation to any
assigned matter (as defined in section 184 of the Customs and
Excise Management Act 1986);
(j) for the purpose of enabling or assisting an official receiver
(whether appointed in the Island or elsewhere and whether in
respect of a person in the Island or elsewhere) to discharge the
official receiver’s functions under any enactment (whether having
effect in the Island or elsewhere) relating to insolvency;
(k) for the purpose of enabling or assisting a trustee in bankruptcy, a
receiver or liquidator (whether appointed in the Island or
elsewhere and whether in respect of a person in the Island or
elsewhere) to discharge that officer’s functions;
(l) with a view to the institution of, or otherwise for the purposes of,
any disciplinary proceedings relating to a person’s profession;
(m) for the purpose of enabling or assisting any person appointed or
authorised to exercise any powers under section 19 of the
Collective Investment Schemes Act 2008 to discharge that person’s
functions;
(n) for the purpose of enabling or assisting in the discharge of the
functions of an auditor of a permitted person (within the meaning
of section 35(1) of the Financial Services Act 2008);
(o) for the purpose of enabling or assisting the Isle of Man Office of
Fair Trading and any adjudicator to discharge their functions
under Schedule 4 of the Financial Services Act 2008 or for the
purpose of enabling or assisting any person exercising equivalent
functions outside the Island;
Company Officers (Disqualification) Act 2009 Schedule 3



c AT 4 of 2009 Page 27

(p) for the purpose of enabling or assisting the Isle of Man Gambling
Supervision Commission in the discharge of its functions under
enactments relating to all forms of gambling;
(q) if the information is or has been available to the public from other
sources;
(r) in a summary or collection of information framed in such a way
as not to enable the identity of any person to whom the
information relates to be ascertained; or
(s) for the purpose of enabling the Public Services Commission to
investigate the conduct of its employees.62

(2) Paragraph 1 does not preclude the disclosure of information for the
purpose of enabling or assisting any public or other authority in the Island for the time
being designated for the purposes of this paragraph by an order made by the Treasury
to discharge any functions which are specified in the order.
(3) An order under sub-paragraph (2) designating an authority for the
purposes of that sub-paragraph may —
(a) impose conditions subject to which the disclosure of information
is permitted by that subsection; and
(b) otherwise restrict the circumstances in which that subsection
permits disclosure.
(4) Paragraph 1 does not preclude the disclosure of any information
contained —
(a) in any notice or copy of a notice served under this Act, notice of
the contents of which has not been given to the public, by the
person on whom it was served or any person obtaining the
information directly or indirectly from them; or
(b) in any register required to be kept under this Act.
(5) Paragraph 1 does not preclude the disclosure of information —
(a) to a regulatory authority within the meaning of section 48(1) of
the Financial Services Act 2008; or
(b) for the purpose of enabling or assisting an authority (whether a
governmental or private body) in a country or territory outside
the Island —
(i) to exercise functions in connection with rules of law
corresponding to the provisions of the Insider Dealing Act
1998;
(ii) to exercise functions corresponding to any of those of the
Authority under the Retirement Benefits Schemes Act 2000,
the Insurance Act 2008, the Financial Services Act 2008, the
Collective Investment Schemes Act 2008 or this Act.63

(iii) [Repealed]64

(6) But sub-paragraph (5) does not permit the disclosure of any information
relating to the affairs of an actual or prospective customer unless —
Schedule 3
Company Officers (Disqualification) Act 2009


Page 28 AT 4 of 2009 c

(a) that customer consents; or
(b) the Authority has given its written consent to the disclosure in
accordance with sub-paragraphs (7) to (9).65

(7) The Authority may consent to a disclosure of information to which sub-
paragraph (6) applies if satisfied that disclosure is appropriate having regard to —
(a) the Authority’s functions;66

(b) the confidential nature of the information;
(c) the purpose for which it is required.67

(8) In deciding whether to consent to a disclosure of information to which
sub-paragraph (6) applies, the Authority shall take the following factors into
account —
(a) the seriousness of the circumstances of the particular case;
(b) whether the disclosure is (either itself or when taken with other
material) likely to be of substantial value to the body to which it is
made;
(c) whether the information could be obtained by other means;
(d) the standards of confidentiality and information security which
will be applied by the recipient;
(e) whether the making of the disclosure is proportionate to what is
sought to be achieved by it; and
(f) whether reciprocal assistance would be given in the country or
territory in which the recipient is based.68

(9) The factors set out in sub-paragraph (8) are neither exhaustive nor
definitive.
(10) The Authority may by order amend —
(a) the list of matters in respect of which the Authority must be
satisfied in sub-paragraph (7); or69

(b) the list of factors in sub-paragraph (8).70


Company Officers (Disqualification) Act 2009 Schedule 4



c AT 4 of 2009 Page 29

Schedule 4

CONSEQUENTIAL AMENDMENTS

Section 22(1)
[Sch 1 amends the following Acts —
Industrial and Building Societies Act 1892 q.v.
Companies Act 1931 q.v.
Companies Act 1982 q.v.
Companies Act 1992 q.v.
Insider Dealing Act 1998 q.v.
Companies Act 2006 q.v.
Financial Services Act 2008 q.v.]

Schedule 5
Company Officers (Disqualification) Act 2009


Page 30 AT 4 of 2009 c

Schedule 5

REPEALS

Section 22(2))
[Sch 2 repeals the following Acts in part —
Companies Act 1931
Companies Act 1982
Companies Act 1986
Companies Act 1992
Insider Dealing Act 1998
Companies (Transfer of Functions) Act 2000
Companies, etc (Amendment) Act 2003
Companies Act 2006.]
Company Officers (Disqualification) Act 2009 Endnotes


c AT 4 of 2009 Page 31

ENDNOTES

Table of Legislation History

Legislation Year and No Commencement






Table of Renumbered Provisions

Original Current






Table of Endnote References

1
Subs (1) amended by SD2015/0090 as amended by SD2015/0276. 2
Subs (2) amended by SD2015/0090 as amended by SD2015/0276. 3
Subs (4) amended by SD2015/0090 as amended by SD2015/0276. 4
Subs (5) amended by SD2015/0090 as amended by SD2015/0276. 5
Para (a) amended by SD2015/0090 as amended by SD2015/0276. 6
Subs (1) amended by SD2015/0090 as amended by SD2015/0276. 7
Subs (2) amended by SD2015/0090 as amended by SD2015/0276. 8
Subs (1) amended by SD2015/0090 as amended by SD2015/0276. 9
Subs (3) amended by SD2015/0090 as amended by SD2015/0276. 10
Subs (2) amended by SD2015/0090 as amended by SD2015/0276. 11
Subs (3) amended by SD2015/0090 as amended by SD2015/0276. 12
Subs (2) amended by SD2015/0090 as amended by SD2015/0276. 13
Subs (3) amended by SD2015/0090 as amended by SD2015/0276. 14
Subs (1) amended by SD2015/0090 as amended by SD2015/0276. 15
Subs (2) amended by SD2015/0090 as amended by SD2015/0276. 16
Subs (3) amended by SD2015/0090 as amended by SD2015/0276. 17
Subs (4) amended by SD2015/0090 as amended by SD2015/0276. 18
Subs (5) amended by SD2015/0090 as amended by SD2015/0276. 19
Para (b) amended by SD2015/0090 as amended by SD2015/0276. 20
Subs (6) amended by SD2015/0090 as amended by SD2015/0276. 21
Subs (7) amended by SD2015/0090 as amended by SD2015/0276. 22
Para (a) amended by SD2015/0090 as amended by SD2015/0276. 23
S 18 amended by SD2015/0090 as amended by SD2015/0276.
Endnotes Company Officers (Disqualification) Act 2009


Page 32 AT 4 of 2009 c

24
Definition of “Authority” inserted by SD2015/0090 as amended by SD2015/0273. 25
Definition of “Commission” repealed by SD2015/0090 as amended by SD2015/0273. 26
Para (c) amended by Foreign Companies Act 2014 Sch. 27
Subs (2) amended by SD2015/0090 as amended by SD2015/0276. 28
ADO (remainder of Act) 18/6/2009 (SD325/09 with savings see arts 4 and 5). 29
Item (a) amended by SD4/12. 30
Item (b) amended by SD4/12. 31
Item (c) amended by SD4/12. 32
Item (ca) inserted by Companies (Prohibition of Bearer Shares) Act 2011 Sch 1. 33
Item (d) amended by SD4/12. 34
Sub-item (i) amended by SD4/12. 35
Paragraph 8A inserted by SD4/12 36
Subpara (1) amended by SD2015/0090 as amended by SD2015/0273. 37
Subpara (2) amended by SD2015/0090 as amended by SD2015/0273. 38
Subpara (3) amended by SD2015/0090 as amended by SD2015/0273. 39
Subpara (4) amended by SD2015/0090 as amended by SD2015/0273. 40
Subpara (5) amended by SD2015/0090 as amended by SD2015/0273. 41
Subpara (6) amended by SD2015/0090 as amended by SD2015/0273. 42
Subpara (7) amended by SD2015/0090 as amended by SD2015/0273. 43
Subpara (1) amended by SD2015/0090 as amended by SD2015/0273. 44
Subpara (2) amended by SD2015/0090 as amended by SD2015/0273. 45
Subpara (3) amended by SD2015/0090 as amended by SD2015/0273. 46
Subpara (4) amended by SD2015/0090 as amended by SD2015/0273. 47
Subpara (5) amended by SD2015/0090 as amended by SD2015/0273. 48
Subpara (6) amended by SD2015/0090 as amended by SD2015/0273. 49
Subpara (7) amended by SD2015/0090 as amended by SD2015/0273. 50
Cross-heading amended by SD2015/0090 as amended by SD2015/0273. 51
Subpara (1) amended by SD2015/0090 as amended by SD2015/0273. 52
Subpara (2) amended by SD2015/0090 as amended by SD2015/0273. 53
Subpara (3) amended by SD2015/0090 as amended by SD2015/0273. 54
Subpara (4) amended by SD2015/0090 as amended by SD2015/0273. 55
Subpara (5) amended by SD2015/0090 as amended by SD2015/0273. 56
Subpara (1) amended by SD2015/0090 as amended by SD2015/0273. 57
Subpara (3) amended by SD2015/0090 as amended by SD2015/0273. 58
Subpara (1) amended by SD2015/0090 as amended by SD2015/0273. 59
Item (a) amended by SD2015/0090 as amended by SD2015/0273. 60
Item (f) amended by SD2015/0090 as amended by SD2015/0273. 61
Item (g) amended by SD2015/0090 as amended by SD2015/0273. 62
Item (s) substituted by Public Services Commission Act 2015 Sch. 63
Subitem (ii) substituted by SD2015/0090 as amended by SD2015/0273. 64
Subitem (iii) repealed by SD2015/0090 as amended by SD2015/0273.
Company Officers (Disqualification) Act 2009 Endnotes


c AT 4 of 2009 Page 33

65
Item (b) amended by SD2015/0090 as amended by SD2015/0273. 66
Item (a) amended by SD2015/0090 as amended by SD2015/0273. 67
Subpara (7) amended by SD2015/0090 as amended by SD2015/0273. 68
Subpara (8) amended by SD2015/0090 as amended by SD2015/0273. 69
Item (a) amended by SD2015/0090 as amended by SD2015/0273. 70
Subpara (10) amended by SD2015/0090 as amended by SD2015/0273.