The Insolvency Act 2006 sets out Offences in relation to the management of companies by those persons who have been adjudicated bankrupt.
(1) A bankrupt commits an offence if he or she—
(a) acts as a director of a company; or
(b) fails without reasonable excuse to comply with section 149.
(2) Despite anything to the contrary in section 25 of the Criminal Procedure Act 2011, the limitation period in respect of an offence under subsection (1) ends on the date that is 2 years after the date on which the offence was committed.
Penalties for offence in relation to management of companies
A person who commits an offence under section 436 is liable, on conviction, to imprisonment for a term not exceeding 2 years.
Note: It is at the Official Assignee’s discretion that prosecution can proceed. S. 438 makes it clear that this can proceed if reasonable grounds are certified by the Crown Solicitor.