Schedule 21, paragraph 5(1)

It is an offence for a person to act as director of a company or directly or indirectly to take part in or be concerned in the promotion, formation or management of a company, without the leave of the court, at a time when— he is an undischarged bankrupt, or a bankruptcy restrictions order is in force in respect of him.

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Source: legislation.gov.uk · retrieved 2026-09-04