Shows how the Company Directors Disqualification Act will be amended to take account of the Small Business, Enterprise and Employment Bill.
This is an unofficial Keeling schedule, which are published to aid the understanding of the effects of new legislation. This schedule shows how the amendments in the Small Business, Enterprise and Employment (SBEE) Bill will effect the Company Directors Disqualification Act 1986 (CDDA).
The main changes to the CDDA will be:
- providing new grounds for disqualification, including for convictions of certain offences overseas and instructing an unfit director
- providing for compensation to be sought in certain circumstances from disqualified directors
- amending the factors that must be taken into account when determining whether a person is unfit to act as a director
- making the reporting system more efficient for office-holders on conduct of directors of insolvent companies
- extending the period for applying for a disqualification order after a corporate insolvency from 2 to 3 years
- removing a restriction when applying for a disqualification order
- making a minor amendment to clarify that a person subject to bankruptcy restrictions in Scotland and Northern Ireland may not act as a company director in Great Britain