Disqualification and personal liability of directors
著者
書誌事項
Disqualification and personal liability of directors
CCH Editions, c1993
4th ed
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注記
Includes index
内容説明・目次
内容説明
The insolvency legislation of 1985 and 1986 introduced a new code of conduct for company directors. It sets standards of competence, diligence and skill which are far more demanding than under previous law. Breaches may lead to disqualification orders, which prohibit the director from holding any office in a company of taking part in its management for up to 15 years, and to compensation orders which impose on him personal liability to contribute to an insolvent company's assets. It is clear that the government has made vigorous use of the wider powers to seek disqualification orders: the number of directors disqualified is now running at an average of about 300 per year. Also, as a result of the many reported judicial decisions, a clearer picture is emerging of the scope of some of the some new legal concepts, such as "unfit" conduct by a director (which can lead to a disqualification order) and "wrongful trading" (which can render a director personally liable). The Court of Appeal has also made important pronouncements on many procedural aspects of the new regime, in situations where the legislation itself is silent.
This fourth edition brings the text fully up to date and takes account of all the reported cases decided under the new legislation.
目次
- Part 1 Introduction - the Insolvency Legislation of 1985 and 1986 : The legislation on director disqualification and compensation orders
- the Insolvency Act 1985
- background to the Insolvency Act 1985
- the consolidating acts of 1986
- the consolidating acts - application and commencement
- extension to bodies other than companies
- liability of "shadow directors" and others
- extension to directors of building societies
- extension to former members of an insolvent partnership. Part 2 Director disqualification - nature and effect of orders - procedure : nature and effect
- duration of order
- leave of court to act notwithstanding order
- who may apply?
- administration and enforcement
- procedure
- register of disqualification orders
- disqualification orders not to be cumulative
- analogous ban on undischarged bankrupt
- variation of disqualification orders. Part 3 Director disqualification - the background : disqualification of directors under the Companies Acts
- changes made by the Insolvency Act 1985
- consolidation of the law. Part 4 Director disqualification - grounds : grounds for making a disqualification order
- disqualification on conviction of an indictable offence - conviction of an indictable offence
- disqualification for persistent breaches of companies legislation - persistent breaches of companies legislation
- disqualification for fraud, fraudulent trading or breach of duty revealed in a winding up - fraud etc in a winding up
- disqualification on summary conviction - summary conviction under companies legislation
- disqualification of unfit directors of insolvent companies - replacement of Companies Act 1985, s.300
- company must have "become insolvent"
- liquidator to report on directors' conduct
- time-limit of two years
- meaning of "unfitness"
- comments on Sch.1
- judicial decisions on the concept of unfitness
- relevance of conduct in relation to other companies
- implications of the new definition of unfitness
- shadow directors
- duration of order
- disqualification after investigation of company - statutory powers of investigation
- disqualification of director after investigation
- comment on s.8
- disqualification on grounds of fraudulent or wrongful trading - fraudulent and wrongful trading. Part 5 Directors' personal liability - fraudulent trading : fraudulent trading
- recommendations of the Cork Committee
- wrongful trading - the new law
- law on fraudulent trading to continue
- remedies and procedure
- Part contents.
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