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Director disqualification: the how and why - Robson Scott - Business Recovery Experts
The reason for director disqualification is still unclear to many people. For the avoidance of doubt, having a company liquidation recorded against you doesn’t not automatically prevent you from acting as a director. Rather than being dealt with by the insolvency act, director disqualification is dealt with under the Company Director Disqualification Act 1986 as there are reasons for disqualification outside of insolvency. What does director disqualification mean? Director disqualification has the following consequences: Prohibition from acting as a director of a company or LLP which is registered or trades in the UK. Prohibition from taking part in the promotion formation or management of a company or LLP. Inability to act as an insolvency practitioner. Restrictions on acting as a solicitor, barrister or accountant. Prohibition from acting as the trustee of a pension scheme. You may also not be a governor or trustee on the board for schools, charities, building …