As enacted

Contents

Rescue, Rehabilitation and Insolvency (Corporate and Personal) Act 2026 · As enacted · Part XII

343. Enforcement of liability of contributories

(1)

A liquidator may –

(a)

where a shareholder is liable to a call in respect of uncalled capital, make a call on that shareholder in respect of that uncalled capital; and

(b)

where a contributory is otherwise liable to the company, make a call on that contributory in respect of that liability.

(2)

Where the liquidator makes a call under subsection (1), it shall give written notice of the call to the contributory.

(3)

A notice under subsection (2) shall comply with such requirements as may be prescribed.

(4)

Interest shall be payable on calls at such rate or rates as may be prescribed.

(5)

On the application of the liquidator made under subsection (1), the court may order payment of –

(a)

an individual call; or

(b)

multiple calls, together with interest, if any, payable under subsection (4).

Rescue, Rehabilitation and Insolvency

C - APPLICATION OF PROPERTY OF THE COMPANY

Part XIII

Part XIV