Section 1182

This section defines what is meant by references in this Part to a person being subject to foreign restrictions. A person is subject to foreign restrictions if under the law of a country or territory outside the United Kingdom— he is, by reason of misconduct or unfitness, disqualified to any extent from acting in connection with the affairs of a company, he is, by reason of misconduct or unfitness, required— before acting in connection with the affairs of a company, or to obtain permission from a court or other authority, or to meet any other condition, he has, by reason of misconduct or unfitness, given undertakings to a court or other authority of a country or territory outside the United Kingdom— not to act in connection with the affairs of a company, or restricting the extent to which, or the way in which, he may do so. The references in subsection (2) to acting in connection with the affairs of a company are to doing any of the following— being a director of a company, acting as receiver of a company's property, or being concerned or taking part in the promotion, formation or management of a company. In this section— “company” means a company incorporated or formed under the law of the country or territory in question, and in relation to such a company— “director” means the holder of an office corresponding to that of director of a UK company; and “receiver” includes any corresponding officer under the law of that country or territory.

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