(1) The Secretary of State may provide by regulations that a person who, at a time when he is subject to foreign restrictions—
(a) is a director of a UK company, or
(b) is involved in the management of a UK company,
is personally responsible for all debts and other liabilities of the company incurred during that time.
(2) A person who is personally responsible by virtue of this section for debts and other liabilities of a company is jointly and severally liable in respect of those debts and liabilities with—
(a) the company, and
(b) any other person who (whether
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