(1) When, on the application of the Registrar, it is made to appear to the court that an individual is unfit to be concerned in the management of a public company, the court may order that, without the prior leave of the court, he or she may not be a director of the company, or, in any way, directly or indirectly, be concerned with the management of the company for such period—
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(a) beginning—
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(i) with the date of the order, or
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(ii) if the individual is undergoing, or is to undergo a term of imprisonment and the court so directs, with the date on which he or she completes that term of imprisonment or is otherwise released from prison; and
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(b) not exceeding 5 years,