Insolvency Service publishes new guidance on director disqualification sanctions
The Insolvency Service has published a new guidance outlining the implementation of director disqualification sanctions under section 3A of the Sanctions and Anti-Money Laundering Act 2018. The guidance details how sanctions ban individuals from directing UK companies or foreign companies with UK connections, unless licensed. Enforcement responsibilities lie with the Insolvency Service, with breaches carrying penalties of up to two years imprisonment. The rules apply across all UK nations under the Company Directors Disqualification Act 1986 and equivalent Northern Ireland legislation.
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