240. Disqualification of persons unfit to be directors
(1) The Registrar may make a disqualification order against a person who is, or has been, a director or shadow director of a company, where it is satisfied that his conduct in relation to the company makes him unfit to be concerned in the management of a company and it is in the public interest to make the order.
(2) Where it appears to the Registrar that, in the case of a person who has offered to give a disqualification undertaking—
(a) the conduct of the person in relation to a body corporate of which the person is or has been a director or shadow director makes him unfit to be concerned in the management of a company, and
(b) it is in the public interest that he should accept the undertaking (instead of making a disqualification order),
it may accept the undertaking.
(3) The maximum period of disqualification under this section is 15 years.