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IVADougie
Starting Member
United Kingdom
15 Posts |
 Posted - 25 November 2011 : 11:42:56
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| I am employed as an Operations Director but don't have a seat on the board, if I were to declare bankruptcy would I lose my job? I understand that you are not permitted to act as a company director but wonder what capacity that relates to? I have no financial role whatsoever within the company, I simply manage a region. |
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Richard P
Senior Member
United Kingdom
1701 Posts |
Posted - 25 November 2011 : 12:04:36
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Hi Dougie
welcome back
your works title is not important to the OR, its what you do for work that counts.
some jobs are not allowed to have bankrupts in the role as defined in bankruptcy regs, solicitors, FSA regulated Judges, member of parliament.
some roles have included a bankruptcy clause in the job spec this is put in by the employer.
THE OR does not want you to have a controlling interest in a business where your identity is hidden. (shadow controlling director) but no problem with running a partnership as long as it is declared.
Good Luck Richard,
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IVADougie
Starting Member
United Kingdom
15 Posts |
Posted - 25 November 2011 : 13:15:26
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| Thanks Richard, it is a really large plc company and the role is operational management, I have no financial control or personal stake so hopefully this would be ok. |
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debtinfo
forum expert
2826 Posts |
Posted - 25 November 2011 : 15:59:32
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| What the rules actually say is that you cannot be involved in the promotion, formation or management or a company. When it says management it means that you have a say in the overall strategic direction of the company ie you make or with a group of others make decisions on what the company does and how it does it. You need to look at your job and decide does that sound like what I am doing or am I merely putting into practice the decisions that come from above |
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IVADougie
Starting Member
United Kingdom
15 Posts |
Posted - 25 November 2011 : 16:19:14
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Well I am involved in the management and strategic direction of the business so I guess I need to tread very carefully and speak to HR in private.
Many thanks for the help. |
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Employment as a Director
