Section 10 Participation in wrongful trading.C4C1C2C3
England, Wales and Scotland
Where the court makes a declaration under section 213 or 214 of the Insolvency Act F11986 that a person is liable to make a contribution to a company’s assets, then, whether or not an application for such an order is made by any person, the court may, if it thinks fit, also make a disqualification order against the person to whom the declaration relates.
The maximum period of disqualification under this section is 15 years.
In this section “company” includes overseas company.
Annotations
Textual amendments
- F1
Words in s. 10(1) inserted (1.10.2009) by The Companies Act 2006 (Consequential Amendments, Transitional Provisions and Savings) Order 2009 (S.I. 2009/1941), art. 2(1), Sch. 1 para. 85(6)(a) (with art. 10)
- F2
S. 10(3) inserted (26.5.2015 for specified purposes, 1.10.2015 in so far as not already in force) by Small Business, Enterprise and Employment Act 2015 (c. 26), s. 164(1), Sch. 7 para. 11; S.I. 2015/1329, reg. 3(c); S.I. 2015/1689, reg. 2(g)
Modifications
- C1
Ss. 9, 10 extended (with modifications) (1.7.1989) by S.I. 1989/638, regs. 20, 21
- C2
S. 10 applied (1.12.1994) by S.I. 1994/2421, art. 16, Sch. 8
- C3
Ss. 6-10 applied (with modifications) by S.I. 1994/2421, art. 16, Sch. 8 (as amended (E.W.) (8.12.2017) by The Insolvency (Miscellaneous Amendments) Regulations 2017 (S.I. 2017/1119), reg. 1(1), Sch. 2 paras. 4, 8)
- C4
Ss. 9, 10 extended (with modifications) by S.I. 1986/2142, art. 6