Investment Funds, Companies and Miscellaneous Provisions Act 2005

Amendment of section 166 of Act of 1990.

70.—Section 166 of the Act of 1990 is amended—

(a) by substituting the following subsection for subsection (1):

“(1) Where—

(a) a director of a company is charged with an offence or civil proceedings are instituted against such a director, and

(b) the charge or proceedings relate to the company or involve alleged fraud or dishonesty,

the court before which the proceedings consequent on that charge or those civil proceedings are pending may (either of its own motion or at the request of any of the parties to the proceedings), if satisfied that it is appropriate to do so, require the director to lodge with the office of the court a notice in writing—

(i) giving the names of all companies of which he is a director at the date of the notice,

(ii) giving the names of all companies of which he was a director within a period commencing not earlier than 12 months prior to his being charged with the offence or the commencement of the civil proceedings and ending at the date of the notice,

(iii) stating whether he is at the date of the notice or ever was subject or deemed to be subject to a disqualification order, and

(iv) giving the dates and duration of each period in respect of which he is or was disqualified.”,


(b) by repealing subsection (3).