Companies Act 2014 section 132

Prohibition of undischarged bankrupt being director or secretary or otherwise involved in company

Section 132 prohibits undischarged bankrupts from acting as a director or secretary of a company, or from being involved in the promotion, formation or management of a company, unless the court grants permission.

• An undischarged bankrupt must not act as a company director or secretary, nor take part directly or indirectly in the promotion, formation or management of a company, without court permission — doing so is a category 2 offence carrying significant penalties.
• Any application to the court for permission must be notified to the Corporate Enforcement Authority at least 14 days in advance, and the Authority has the right to attend the hearing and be heard.
• A person convicted of this offence is automatically deemed to be subject to a disqualification order from the date of conviction, for a period specified by the court, even if no such order was already in place.
• The term "disqualification order" carries the same meaning as defined in Chapter 4 of Part 14 of the Companies Act 2014.