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Companies Act 1985
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Rhagor o Adnoddau
Changes over time for: Section 24
Version Superseded: 01/12/2003
Alternative versions:
- 01/02/1991- Amendment
- 15/07/1992- Amendment
- 22/11/2000
Point in time - 01/12/2003- Amendment
- 01/10/2009- Amendment
Status:
Point in time view as at 22/11/2000. This version of this provision has been superseded.
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24 Minimum membership for carrying on business.E+W+S
If a company [F1other than a private company limited by shares or by guarantee,] carries on business without having at least two members and does so for more than 6 months, a person who, for the whole or any part of the period that it so carries on business after those 6 months—
(a)is a member of the company, and
(b)knows that it is carrying on business with only one member,
is liable (jointly and severally with the company) for the payment of the company’s debts contracted during the period or, as the case may be, that part of it.
Textual Amendments
F1Words in s. 24 inserted (15.7.1992) by S.I. 1992/1699, reg. 2, Sch. para.2.
Modifications etc. (not altering text)
C1S. 24 modified (12.2.1992) by S.I. 1992/225, reg. 61(7).
S. 24 amended (15.7.1992) by S.I. 1992/1699, reg.3.
S. 24 applied (with modifications) (6.4.2001) by S.I. 2001/1090, reg. 4, Sch. 2 Pt. I
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