110 Compensation orders and undertakings
Small Business, Enterprise and Employment Act 2015 (2015 c 26) | Legislation

Compensation Awards

110  Compensation orders and undertakings

After section 15 of the Company Directors Disqualification Act 1986 insert—

“Compensation orders and undertakings
15A Compensation orders and undertakings

(1)     The court may make a compensation order against a person on the application of the Secretary of State if it is satisfied that the conditions mentioned in subsection (3) are met.

(2)     If it appears to the Secretary of State that the conditions mentioned in subsection (3) are met in respect of a person who has offered to give the Secretary of State a compensation undertaking, the Secretary of State may accept the undertaking instead of applying, or proceeding with an application, for a compensation order.

(3)     The conditions are that—

(a)     the person is subject to a disqualification order or disqualification undertaking under this Act, and

(b)     conduct for which the person is subject to the order or undertaking has caused loss to one or more creditors of an insolvent

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