disqualification order definition

disqualification order

Court order banning an individual for a stated period from becoming the director of a firm. When a business is declared bankrupt by a court, its current and past directors (those associated with the firm for a certain number of years—usually three—prior to bankruptcy) may be so disqualified if they are indicted for failure to discharge directors' duties, or for fraud or misfeasance.

disqualification order is in the Corporate, Commercial, & General Law subject.

disqualification order appears in the definition of the following term: disqualification of directors

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