(1) The Secretary of State may make provision by regulations disqualifying a person subject to foreign restrictions from—
(a) being a director of a UK company,
(b) acting as receiver of a UK company's property, or
(c) in any way, whether directly or indirectly, being concerned or taking part in the promotion, formation or management of a UK company.
(2) The regulations may provide that a person subject to foreign restrictions—
(a) is disqualified automatically by virtue of the regulations, or
(b) may be disqualified by order of the court on the application
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