2.2 What are the restrictions?
You must disclose:
- to a credit provider that you are subject to bankruptcy restrictions if you, either alone or jointly with another person, wish to get credit of more than £500;
- to a credit provider that you are subject to bankruptcy restrictions if you, either alone or jointly with another person, apply for credit of any amount, if at the time of applying you already have debts of £1,000 or more; and
- to anyone you wish to do business with, the name (or trading style) under which you were made bankrupt.
You may not:
- act as the director of a limited company or take part in its formation, promotion or management, without permission from the court;
- act as an insolvency practitioner, or as the receiver or manager of the property of a company on behalf of debenture holders; and
- be a Member of Parliament, Justice of the Peace or aschool governor in England or Wales.
There are various other restrictions which are not set out in bankruptcy law. These include not being allowed to act as a local councillor or hold other public offices.
If you wish to check whether bankruptcy restrictions prevent you from being elected to, or remaining in, an office or position within an organisation, you should seek guidance from the appointing or authorising body or group.