Cap. 386 Art. 320Disqualification orders.

(1) The court, upon the application of the Attorney General, the Official Receiver or the Registrar, may make a disqualification order against any person who is found guilty of an offence under this Act, other than an offence punishable only with a fine, or who has infringed any requirement of this Act with the consequence that the person becomes liable to contribute to the assets of a company or becomes personally liable for the debts of the company.

(2) The court, upon the application of the Attorney General, the Official Receiver or the Registrar, may also make a disqualification order against any person if it is satisfied -

(a) that such person, during the time he has been a director of a company, has been in breach of the provisions of this Act for the third time in a period of two (2) years that shall be reckoned from the first breach; or

(b) that such person is or has been a director of a company which at any time has become insolvent, whether while he was a director or subsequently, and that his conduct as a director of that company, either taken alone or taken together with his conduct as a director of any other company or companies, makes him unfit to be involved in the management of a company.

(3) A disqualification order made under this article may be for a minimum period of one year and a maximum period of fifteen years.

(4) For the purposes of this article, a disqualification order is an order whereby a person shall not, without leave of the court, be -

(a) a director or company secretary of a company; or

(b) a liquidator or provisional administrator of a company; or

(c) a special manager of the estate or business of a company; or

(d) concerned in any way, whether directly or indirectly, or take part in the promotion, formation or management of a company, for a specified period beginning with the date of the order.

(5) A notice of a disqualification order made under this article shall -

(a) be delivered by the Registrar of Courts to the Registrar for registration;

(b) be furthermore recorded in a register to be kept for this purpose by the Registrar and which shall be open for public inspection.

(6) Any person who, while being subject to a disqualification order, acts in contravention thereof, shall be guilty of an offence and liable on conviction to a fine (multa) of not more than forty-six thousand and five hundred and eighty-seven euro (€46,587), or imprisonment for a term not exceeding three years, or to both such fine (multa) and imprisonment.