Companies Act 2014 section 133

Examination as to solvency status

Section 133 gives the Corporate Enforcement Authority the power to investigate whether a director or secretary of a company is an undischarged bankrupt, and to take enforcement action including seeking a court-ordered disqualification.

• The Authority may require a director or secretary suspected of being an undischarged bankrupt to provide a sworn statement of their full financial position, both within Ireland and abroad
• The Authority can apply to the court to have the individual appear and answer questions under oath about the content of their sworn statement
• The court may, on application by the Authority, make a disqualification order against the individual for a period the court decides, on the grounds that the person is an undischarged bankrupt
• Failure by a director or secretary to comply with the requirement to produce a sworn statement is a category 3 criminal offence