Section 108 | Unfit directors of insolvent companies: extension of period for applying for disqualification order

(1)In section 7(2) of the Company Directors Disqualification Act 1986 (period within which application may be made for disqualification order against unfit director of insolvent company), for “2 years” substitute “ 3 years ”.

(2)Subsection (1) applies only to an application relating to a company which has become insolvent after the commencement of that subsection.

(3)Section 6(2) of the 1986 Act (meaning of “becoming insolvent”) applies for the purposes of subsection (2) as it applies for the purposes of section 6 of that Act.