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Chapter 7
There are a number of occasions where statute will intervene to lift the veil. The
following are examples of these where a director is also a member of the company
(but be aware that there are other provisions):
Legislation: Applies when: Effect
Company Directors A director who is Director will be jointly or
Disqualification Act 1986 disqualified participates in severally liable for the
the management of a company’s debts.
company.
Insolvency Act 1986 Wrongful or fraudulent Directors may be
trading. personally liable for losses
arising as a result.
S.767 CA06 Public company trades Directors can be made
without first obtaining a personally liable for any
trading certificate. loss or damage suffered
by a third party.
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