Restrictions: from being an Undischarged Bankrupt

An undischarged bankrupt:

Cannot

• Hold office as a company director,
• Manage a company, directly or indirectly,
• Become an MP, a JP, or a local councillor,
• Carry on a trade or business unless he uses the same name as that in which he was declared bankrupt (or if he uses a different name, he must tell all customers his correct name);
• Obtain credit for £50 or more (e.g. overdraft) without revealing that he's an undischarged bankrupt (oddly, this does not apply to HP agreements);

Can

• open a bank account but the bank must inform the trustee, who will usually order the account to be closed and any money in it to be handed over,
• receive or earn money, but it will be the property of the trustee. It must pass to the trustee. The trustee will only allow the bankrupt to keep as much of his earnings, profits, pension, etc., as are reasonably necessary to support himself and his family. In practice, this is a small amount, and allows the bankrupt no luxuries.