Companies Act (Cap. 386), article 320

320. (1) The court, upon the application of the Attorney General, the Official Receiver or the Registrar, may make a disqualifica tion order against any person who is found guilty of an offence unde r 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 comp any or becomes personally liable fo r 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 disqualific ation order against any person if it is satisfied - (a) that such person, during the time he has been a director of COMP ANIES [CAP. 386. 193 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 i s 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 th e 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 perio d 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 off ence 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 s uch fine (multa) and imprisonment. Other remedies.321. The provisions of this Chapter shall be without prejudice to any other offences or remedies which may exist under any oth er law. Chapter VI - Supplementary Provisions 194 CAP. 386.] COMP ANIES Statement by liquidator in respect of pending winding up. Amended by: IV . 2003.120. XVIII.2025.44.