7.12 A disqualification undertaking is an undertaking given by a person to the Registrar in which the person undertakes that they will not:
a. be a director;
b. act as receiver of a company’s property;
c. take part in the promotion, formation or management of a company; or
d. act as an insolvency practitioner.
7.13 The minimum period of a disqualification undertaking is two years. The maximum period is 15 years.
7.14 If a disqualification undertaking is made by a person who is already subject to a disqualification order or undertaking, then the periods specified in those orders and undertakings run concurrently.
7.15 The Registrar may accept a disqualification undertaking if it appears to the Registrar that it is expedient in the public interest that the Registrar should do so.